Economizing Instead of Innovations: the Electronics Market in russia Is in Crisis

The market for household appliances and electronics in the rf is experiencing its sharpest decline in decades. A decline has been recorded in key segments: sales of laptops decreased by 10 % in units and by 14 % in monetary terms; of televisions – by 10 % and 6 %, and of desktop PCs – by 9 % and 11 %. Among the reasons cited there are high key rates and limited access to loans.

At the same time, the smartphone market is expected to shrink from 31.5 million to 26-27 million units per year. The average price of a device is rising as consumers buy phones “for the longer term”, which is 5-6 years.

Unlike traditional retail, marketplaces are growing thanks to large discounts and aggressive competition. But this is not a sign of a healthy market, but a consequence of buyers looking for the cheapest options, often rejecting quality products in favor of lesser-known brands. The average price of wireless headphones, for example, has fallen below 2,000 rubles, which is a sharp decline.

Even in the resale segment, the main driver of growth is not innovation, but the economic hardship of the population. People are increasingly buying used equipment instead of new one in an attempt to save money. The downward trend is intensifying, and the russian electronics market will not be able to return to its previous volumes in the coming years.