Economist Belyaev announced the readiness of departed brands to return to Russia
The brands that left may start returning to Russia, provided that there are no obstacles from the state, economist Mikhail Belyaev admitted in a conversation with Lenta.ru. He added that the country’s market remains extremely attractive for most companies.
“A branded product has a certain limitation in distribution. Even with a wide circle of consumers, it is based mainly on reputation. A person, choosing a product in approximately the same price range with similar characteristics, tends to give preference to the one with which he is already familiar and in which he is confident,” the economist explained.
The Russian market, as he recalled, is 150 million people whose salaries are growing. And brands that have had success and a good reputation here have a logical temptation to return, increasing their sales and profits. At the same time, it is much easier to return to the market than to conquer it from scratch.
“There is always a willingness to return. Now we see isolated returns, but when other companies see successful examples, the absence of obstacles on our part, this number may grow. There should be no obstacles: the presence of brands is always positive,” Belyaev noted.
It was previously reported that the car brands that left Russia are not trying to return. It is more important for them to avoid sanctions, which could result in a loss of 10 to 30 percent of sales (Russia accounted for 2 to 5 percent).
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