There has been an increase in the number of companies related to interior design in Moscow. This was demonstrated by a study presented to socialbites.ca by the organizers of the Moscow Interior and Design Week.
“Today we can definitely say that the separation of Western manufacturers, furniture and interior retailers has become a new opportunity for Russian companies. Domestic producers were able to almost completely occupy the vacated niches and strengthen technological dominance. In addition, in the last two years, many new brands have appeared in Russia, especially in Moscow, whose product quality is in no way inferior to Western manufacturers.” Russian Federation.
According to analysts, the number of companies in the interior design sector in 2023 increased by 8.7% compared to 2021, especially in the Distribution and Sales segment. Revenue in 2022 reached 671 billion rubles. – this is 9.8% more than in 2021.
“Positive dynamics indicate that the Moscow market is actively developing vacated niches and is open to new players, but over the 2-3 year horizon, barriers to market entry will increase,” the study says.
It is noted that the structure of consumption of household goods and interior design is dominated by the Moscow market – it accounts for one in every five rubles of the revenues of Russian companies operating in this sector.
“At the same time, the largest segments of the Moscow market are “Distribution and Sales” and “Development of Design Projects”, occupying 34% and 56% of the Russian market, respectively,” analysts said.
In terms of B2C, companies in the “Design Project Development” and “Furniture and Decor” segments are leaders with 25% and 71%, respectively.
“The most modest growth in the B2C direction is seen in the Materials and Coatings segment. It is still under pressure from sanctions shocks today, and “recovery” growth is expected to occur over the next 2-3 years, according to analysts’ forecasts, the researchers concluded.
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Source: Gazeta
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