Russia: Consumers Turn to Private Labels
As the economic crisis in Russia deepens, consumers are tightening their belts and changing their purchasing patterns culminating in the growth of Private Label Products (PLP). The share of PLP in gross turnover is still lower than in most European countries but this figure is steadily growing each year. In 2015, the PLP share in gross turnover rose 15.4 percent and this figure is expected to grow in 2016 and beyond. Most private label manufacturers are local but there are many foreign producers supplying PLP for Russian retailers, especially for traditionally imported goods like olives, coffee, preserved fruits amongst others.
