The Russian market for household goods and repairs grew by 12% in 2023 – Kommersant
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In 2023, retail trade turnover in the Russian market of construction and finishing materials and household goods increased by 12% and amounted to 2.8 trillion rubles, according to a report by the analytical agency INFOLine (available to Kommersant). According to experts, the growth in indicators was mainly achieved due to the intensification of inflation processes, an increase in the volume of commissioning of individual and multi-apartment housing, as well as the purchase of goods postponed in 2022.
The top 10 retailers, whose revenue grew by 11.2% in 2023, included VseInstrumenty, Petrovich, Stroitelny Dvor, Saturn, Baucenter, Maxidom, OBI and Megastroy. Leroy Merlin remains the leader. In total, these DIY retail chains earned 1.05 billion rubles last year.
Online sales also grew in 2023, especially in multi-category marketplaces, according to the INFOLine report. Including VAT, sales on the online market for household goods and repairs increased 2.4 times, to RUB 276 billion. For example, Ozon increased its turnover by 2.6 times and took second place after Leroy Merlin.
According to INFOLine’s forecast, the key challenges for the industry in 2024 will be increased competition between retailers and marketplaces, as well as different delivery formats (express delivery or pre-order and pick-up services). The market will also be impacted by digitalization and automation, including the introduction of robots and artificial intelligence, direct and parallel import processes, and retail partnerships in supply chains.
Read more about the situation on the Russian retail market in the Kommersant article. “Angstrem furnishes partners”.
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