Russia-Made Goods Replacing Imports On The Country’s Shelves, Nielsen Says.

0 46

Russia-made products accounted for 83% of the country’s market for common consumer goods in the first half of 2022, up 4% on a year before, according to a report published by NielsenIQ.

Domestic production of so-called fast-moving consumer goods is filling shelves as imports slump amid Western sanctions against Russia.

The sanctions, imposed after Moscow deployed tens of thousands of troops to Ukraine in late February; have prompted scores of foreign companies, many in the consumer goods sector, to quit the country.

Some of the biggest declines in foreign goods occurred in the alcohol market. Where Russian beer made up 89% of sales in the first half of 2022, up from 79% a year ago.

Beers produced and sold by foreign brewers who had announced plans to exit Russia were still on sale in supermarkets and stores in Moscow last week, highlighting how long it can take for consumer-focused restrictions to have an impact.

-Reuters.

Leave A Reply

Your email address will not be published.

%d bloggers like this: