New Consumer Goods market report from Business Monitor International: "Russia Consumer Electronics Report Q2 2014"
Boston, MA -- (SBWIRE) -- 05/21/2014 -- The outlook for the Russian consumer electronics market has weakened due to a worsening domestic economic environment, rouble depreciation and political uncertainty surrounding the situation in Crimea. We still expect the consumer electronics market to record growth every year in our forecast period to 2018, but there is increased downside. We now expect spending to increase at a compound annual growth rate of 2.9% 2014-2018, to reach a value of US$35.446bn in 2018. Growth will be driven by the growing popularity of digital lifestyle products like smartphones, Smart-TVs, tablets, and hybrids/ultra-thin notebooks. The market should receive an additional medium term boost from Russia's WTO entry, confirmed in August 2012, with import taxes of 5-15% expected to be lowered within three years.
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Headline Expenditure Projections
Computer Hardware Sales: US$12.4bn in 2013 to US$11.9bn in 2014, +4.7% in US dollar terms. The computer market will be hit by rouble depreciation, a drag on a big-ticket item market. Meanwhile, the continued shift from notebooks to low-cost tablets will also be a drag on value growth.
AV Sales: US$9.8bn in 2013 to US$10.2bn in 2014, +5.0% in US dollar terms. After the market contracted in 2012 as digital camera volumes declined, we expect the market to rebound as the camera market stabilises, and TV and games console spending drive growth.
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