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Smartphones and Accessories, Household Appliances, Audio and Video Devices, Computer Equipment, and Supermarket,” the research read. “The bestsellers in these categories among the marketplace’s users were the 14 iPhone Pro, LED TV sets 4K Ultra HD Haier, robot vacuums Xiaomi Mi, and grain coffee Lavazza.” The marketplace’s Marketing Director Anna Migal said that the people make large purchases during the reported period, like household appliances and gadgets.
Customs duties on imports of electronics and household appliances to Russia in 2022 decreased by 40%, Kommersant daily reported citing unnamed electronics distributors who attributed the decline to the withdrawal of foreign suppliers and drop in demand. As followed by bne IntelliNews, as the stockpiles of Western goods are depleted in Russia after a wave of sanctions and pullouts amid the military invasion of Ukraine, Chinese and Turkish imports are coming into focus across major consumer categories.
In 2022 the Fast Moving Consumer Goods (fast moving consumer goods) market saw nominal growth of 13.6%, but it was mostly driven by higher inflation, which contributed 17% to sales growth, Kommersant daily reported citing the data by NielsenIQ. In real terms the FMCG market in Russia shrank by 3.4% in 2022. As followed by bne IntelliNews, the sanctions and the fallout from Russia’s military invasion of Ukraine led to a number of international FMCG majors pulling out of the country, such as Coca-Cola, P&G, Henkel, IKEA and Inditex. This, together with a drop in disposable income of the population, led to FMCG consumption diving to below that of the 2014-2015 crisis, according to NielsenIQ. NielsenIQ's research is based on an audit of FMCG retailers across Russia, including more than 200 retail chains and over 120,000 traditional retail outlets. According to a NielsenIQ survey conducted in 2022, 88% of FMCG market participants indicated a decline in consumer income. As a result, the share of the top 50 FMCG brands in the market has decreased to 25.2% compared to 27% in 2021.
9.1.6 Agriculture sector news
2022 was a successful year for agriculture, which is projected to record overall growth of at least 4%.
Fish consumption in Russia may contract by 5-7% per consumer in average during the next several years, the National Rating Agency (NRA) says in its research. Redistribution in the fish basket of consumers is also possible and the salmon share in 2022 may decline due to high prices. "In 2022, frozen white fish prices are growing comparably with inflation, while the salmon price gained a quarter. NRA believes that fish products consumption may contract during the coming several years within limits of 5-7% in average per consumer," the Agency reports. Fish and fish products consumption in
129 RUSSIA Country Report February 2023 www.intellinews.com