In Russia, the number of launches of new fast-moving consumer goods (FMCG) brands decreased in 2023, according to data from NielsenIQ, cited by RBC.
Thus, from January to August, the Russian market received 16% fewer new products than during the same period last year. However, for the second year in a row, the Russian Federation exceeds the average values of previous years.
According to analysts, 7.3 thousand new brands were launched in the first eight months of the year. Last year, their number was 8.7 thousand, although the figures still exceed the results of 2021, when 6.9 thousand new brands entered the market in eight months.
NielsenIQ explains the reasons for the slowdown in the fact that in 2022 the market faced an unusual situation. New brands arrived in Russia at an “incredible pace,” replacing companies that had left the country.
As a previous Mindbox study showed, 40% of Russians are willing to buy products from defunct brands under new names. The market has seen several such name changes in recent months. After the transfer of the Russian company Danone under the management of the Federal Property Management Agency by order of Vladimir Putin, the Actimel product was renamed Actimuno and Alpro drinks will hit the shelves under the Planto label.
In addition, the owner of the Jacobs, Tassimo, Douwe Egberts and L’Or brands, the Dutch JDE Peet’s, stopped selling products of these brands in Russia.
Author:
Natalia Gormaleva
Source: RB
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