Import Substitution of Marketing Channels and Products in the Field of Perfumery and Cosmetics Retail

Abstract

This article discusses various aspects of the situation of import substitution in the field of perfumery and cosmetics retail, which has developed in the Russian Federation in the middle of 2022. The author analyzes the changes that have occurred in the market after the tightening of sanctions and restrictions by Western countries. Further trends in the development of the domestic perfumery and cosmetics market are revealed. It is concluded that the events taking place not only have negative aspects, but also provide ample opportunities for domestic producers. The Russian market and the perfume and cosmetics industry itself are waiting for serious internal transformations in the coming years, but the market capacity cannot decrease and will tend to increase, which determines the need for effective import substitution based on the development of own production and increased supplies from friendly countries.