Tradedown is a major trend in the Russian beauty market as the country is currently suffering from the effects of an economic crisis in 2015. This crisis has had a major impact on on consumers spend, particularly in the beauty market. There are five major trends emerging in the beauty market as a result of tradedown. First, consumers are buying one item per transaction instead of multiple items. Second, multifunctional beauty products are in high demand. Third, consumers are engaging in more promotions than ever before. Fourth, cosmetic sets and kits are being purchased for personal use due to better pricing than single items. Finally, consumers are turning to direct sellers.
Olga Murogova is a country research analyst at Euromonitor International. She graduated from Belarussian State Economic University with a degree in international economic relations back in 2008 and has working experience in imports, transportation and forwarding, as well as market analysis and research. Professional interests go beyond building and analyzing data and also cover participation in PR and organizational activity and coaching.