The drop in demand for consumer goods has broken an eight-year record. Overall, the market grew nominally, but sales declined in real terms. This was influenced by the drop in the real income of the population.
The Russian consumer goods market grew nominally 13.6% in 2022, but mainly due to inflation, which contributed 17% to growth, NielsenIQ analysts said. According to official data, inflation in Russia in 2022 was 11.9%.
Real consumption of consumer goods fell 3.4% last year. In 2015, which is considered a year of crisis, the indicator decreased by only 1.5%.
Sales in 2022 fell every month except for March, when, after the start of a special operation in Ukraine, there was a market rush due to the exit of foreign companies, experts said.
According to Rosstat, the real disposable income of the Russian population has been declining throughout 2022 and fell by 3.4% between July and September. It was the drop in income of citizens that was the main reason for the record drop in demand for everyday goods, NielsenIQ noted.
Author:
Kirill Bilyk
Source: RB
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