Russia: Alcohol Market Plummets 1.6%

Russia’s Alcohol Market Decreases By 1.6%

Russia’s alcohol market has plummeted by 1.6% compared to 2015, government statistics show. The decline in the alcohol market is associated with the country’s ongoing economic crisis that forces Russians to tighten their belts.

Especially the whisky market is among affected by the decline, with sales tumbling by 8.2% in the first nine months of 2016. Russians also turned their backs on champagne and brandy causing a decrease by 4.2% and 2.3% respectively.

Russians are no longer interested in alcohol in the same way,” said Vadim Drobiz, president of the Alcohol Market Research Center, according to reports from The Moscow Times.

It’s very noticeable in the whiskey market, where casual buyers have all but been washed away.”

Of the 816 million decaliters of alcohol bought by Russians in the first nine months of 2016, cider made up just 3 million decaliters — but retailers expect its popularity to keep rising as Russia’s ongoing economic crisis forces consumers to cut out spending on unnecessary commodities.

Strong cider costs four times less than alcoholic beverages of a similar strength made with hard liquor.

WHO Country Profile, Russian Federation

Source Website: The Moscow Times