As well as exploring the outlook for the Russian economy in 2018-2021, the report also examines the impact of the country’s ageing population for consumer brands.
Key findings include:
- Russian GDP grew in 2017 by 1.5%, compared to a 3.7% global average, and is projected to rise no more than 2% annually in 2018-2021, suggesting that companies need to adjust for muted growth.
- Russia remains highly dependent on volatile oil and gas prices (yet, as oil price approaches $70 per barrel, it boosts competitive US oil production).
- Despite the economic situation stabilising since 2016, Russia still ranks low on our global Consumer Confidence Index, with the country’s Primary Index score (measuring consumer attitudes) standing at 41% in the first quarter of 2018, compared to a global average of 51%.
- The 55+ age group has significant purchasing power in Russia, accounting for 29% of all current bank accounts, 26% of concert visits, and 22% of appliance purchases in 2017.
- The older age group in Russia surpassed teenagers in terms of internet audience size in 2017 (the weekly internet audience share for those aged 55+ was 13.4%, compared to 13.1% of those 10-19).
[EVENT] The State of Reputation in Canada: Today’s Context, Tomorrow’s Expectations
On May 7, please join Ipsos for an exclusive breakfast presentation about the state of reputation in Canada – how companies are performing now, the impact of the current social and economic context on trust, and how your stakeholder’s future hopes and expectations will influence your reputation in the years to come.