European brands' market share in Russia set to hit 50% by 2025
According to Kommersant, the share of European brands in the Russian market is set to increase to 50% in 2025. This growth is primarily due to the planned opening of 12 new stores, an increase from the seven opened last year. Despite this, a widespread return to European markets has yet to occur.
According to data from consulting firm CORE.XP, the share of European brands in the Russian market will rise by 21 percentage points, reaching 50% in 2025.
This increase is due to the planned opening of 12 new stores, a notable rise from the seven opened last year, notes "Kommersant".
Despite the increase in European brand presence, the mass return to the Russian market faces hindrances.
The primary issue is the scarcity of suitable retail spaces that meet the standards of leading Western companies. Local businesses are attempting to occupy the vacancies left by international brands exiting Russia.
Local brands are gaining popularity
According to Kommersant, Russian consumers are increasingly opting for products from rapidly expanding domestic companies. In the mass market segment, chains such as Familia, Sin, and Gloria Jeans are capturing a growing market share.
In 2024, Familia accounted for 5.3% of offline retailers' transactions, illustrating local brands' rising popularity.
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