Cosmetics retail sales revenue in Russia 2017-2022
The Russian cosmetics market grew steadily between 2017 and 2022. In the latest year observed, retail sales of cosmetics and perfumes in specialized stores exceeded one trillion Russian rubles. Over the course of 2022, the revenue increased by over 131 billion Russian rubles.
Cosmetic market overview
The cosmetics market in Russia was estimated to generate approximately 3.12 billion U.S. dollars in revenue in 2024 and reach nearly 3.5 billion U.S. dollars by 2028. The face cosmetics recorded the largest revenue, at around 860 million U.S. dollars in 2024. In terms of the luxury and non-luxury cosmetics divide, roughly one-third of the revenue on the Russian cosmetics market was generated by luxury products.
COVID-19 impact on the cosmetic market
Given a high dependency on in-store sales, a lockdown of retail businesses as one of the preventive measures of the coronavirus (COVID-19) expansion in the country, had a drastic impact on the cosmetics business in Russia. While the shopping mall traffic evolved at a negative pace, major cosmetic retailers tried to reinvent their businesses, heavily relying on e-commerce and hygienic product sales. Nevertheless, the average receipt value dropped by approximately 23 percent in 2021 relative to the previous year.
