Coming to Grips with the Challenges in Market Intelligence within Russia and the CIS regions
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The
wealthiest market per capita of all BRIC countries, Russia combines the best of
Europe and Asia. Together with the Commonwealth of Independent States (CIS), it
offers rich mineral resources as well as intellectual and creative potential. How
does one conduct Market Intelligence on its opportunities while avoiding its
risks? The GIA white paper “Market Intelligence in Russia & CIS” addresses this question, and more.
We ask
Alexander Pechersky, Director at ALT R&C, Global
Intelligence Alliance’s Member in Russia, for his views on his homeland.
What is your view of Russia, compared
to other BRIC nations?
“As
with all BRIC countries, Russia offers huge potential. Jointly with 12 CIS
countries, it represents around 300 million Russian-speaking consumers. Markets
here are growing very rapidly and things are changing very fast. Like all
developing countries, Russia can also lack transparency.
Russia is also very different from other BRICs.
First, it is relatively richer. GDP per capita here is six times that of China and twice that of Brazil.
Due to the heritage of the Soviet times, the intellectual, educational and infrastructural base is also relatively solid and developed. Plus, there is a huge difference in mindset. We are in essence, Europeans, so we are much closer culturally to the West than say, China and India.
There are many other interesting cultural phenomena, and we cover those in the white paper.”
Which industries are attracting
investments in Russia?
“Russia
offers many opportunities for different types of companies. Our vast territory
and relative lack of infrastructure means there are opportunities for companies
in logistics and transportation, building and construction, engineering,
telecommunications, hotels, etc.
We are extracting more minerals than most other countries and hence, have a promising market for competitive minerals-processing technologies.
Russia is one of the biggest markets for luxury goods manufacturers and is increasingly offering attractive opportunities for mid-sized fast moving consumer goods (FMCG) and residential goods manufacturers. We have a strong base of nationwide retailers, all of which are actively seeking private labels - as well as successful distributors who are slowly losing their exclusive contracts with the big international brands as a result of market maturity. These distributors are seeking upcoming second-tier brands.
Private equity investors will find Russian companies attractive because of their rather low valuations.”
What type of market intelligence do
companies typically seek for their decision-making?
“I don’t
think there is a big difference between the market intelligence that is needed
in Russia compared to other BRIC countries. Our clients are eager to know their
competitors deeper than they do now, to understand their market size well, to
study new channel opportunities or to test new products.
But I have noticed some changes in the type of market intelligence requests compared to the pre-crisis boom period.
Competition is getting tougher for our clients, resulting in more sophisticated market intelligence needs. Clients increasingly ask for more detailed information and wish to understand specific niches or segments, as opposed to more general market studies.
I would say that market intelligence here is becoming more strategic in focus. It is moving from data analysis towards deeper understanding of customers, competitors and channels. We are conducting significantly more modeling and analytics as a result.”
What does the GIA white paper cover?
“The
GIA white paper “Market Intelligence in Russia & CIS” will help companies
understand the market dynamics in Russia & CIS better, and how to make the
most out of market intelligence participants are interested in conducting for this
vast and colorful region.
We will focus on the market fundamentals, as well as specific features that set this region apart.
We help to explain which markets and sectors are attractive, and why.
We also talk about the types of companies that will succeed here, and how they can take advantage of market opportunities.
Overall,
it will be insightful for companies considering market entry in Russia, and for
companies that already operating here that are looking for new opportunities
and ideas.”
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media inquiries, send an email to media(at)globalintelligence.com.
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Global Intelligence Alliance
Global Intelligence Alliance (GIA) is a strategic market intelligence and advisory group. GIA was formed in 1995 when a team of market intelligence specialists, management consultants, industry analysts and technology experts came together to build a powerful suite of customized solutions ranging from outsourced market monitoring services and software, to strategic analysis and advisory.
Today, we are the preferred partner for organizations seeking to understand, compete and grow in international markets. Our industry expertise and coverage of over 100 countries enables our customers to make better informed decisions worldwide.
