Research house GfK’s most recent TEMAX analysis of the ICT, telecoms and consumer electronics market in Russia indicates that the total market value hit US$8.2 billion in the fourth quarter of 2018 – up 16.3% year-on-year. The positive market development continued as consumers found attractive offers in retail and accelerated purchase decisions ahead of VAT changes planned for 2019. Total sales in Russia for calendar 2018 hit US$25.8 billion – up 16.6% year-on-year.
GfK’s category insight showed information technology sales up 22.1% year-on-year at US$1.72 billion in the fourth quarter of 2018. GfK highlighted an increase in the mobile computing market driven by increased market share for powerful devices. Strong sales of gaming monitors and gaming accessories also contributed to the increase.
In the telecoms segment, fourth quarter 2018 sales reached US$2.76 billion – up 12.5% year-on-year. GfK stated: “The attractive offers in retail stimulated consumers to purchase expensive devices by offering instalment programmes, bundles, cashbacks and other promotional campaigns.”
GfK is an event partner for DISTREE Russia 2019.
Article first appeared on media partner site Channel EMEA. For full story click here