WorldFood Moscow Market Survey Part 3: Finding success & learning lessons

The final part of our ITE Food & Drink Market Insights’ WorldFood Moscow 2016 market survey series, exhibitors share their advice on how best to crack the Russian food and drink market. Who knows best than those already living and working in the sector? Read on to learn successful exhibitors’ wise words.
 

Want to succeed in Russia’s food & beverage market? Find the right parent

New companies can find entering the market a little intimidating . The solution, according to experienced veterans and fresh faces alike, is simple: find the right partner. Firmly over half of those who responded told us that making the right contacts, and locking in with a solid partner, is the ideal way to find Russian success.






27% made a vital point and advised new exporters get to grips with Russia’s notoriously strict import regulations. Food safety is often the context in which food bans are issued by Rosselkhoznadzor (Russia’s food health and safety watchdog). Such customs, practices and rulesets can pose some serious obstacles to unprepared businesses. 

16% also suggested explorative businesses head to WorldFood Moscow. It is hard to fault that advice. As Russia’s premiere food event, WorldFood Moscow is an ideal platform for gauging the state of Russia’s food sector, gaining valuable information, and making those all important business connections. 
 

What can be learned from WorldFood Moscow 2016?

Plenty of useful, tangible information was gleaned by our team at WorldFood Moscow in 2016:

• Optimism is returning, with many seeing Russia as a viable, lucrative export market once more.
• 2015 was a challenging year, with currency devaluations to blame.
• However, some saw this as a golden opportunity to enter Russia.
• Numbers of new product launches have been kept low while Russia’s economic situation improves.
• If you want to succeed, business-wise, in Russia you need to find the right partners and contacts.
• Exporters must be aware of Russia’s complex customs practices and regulations.
• Attending WorldFood Moscow has huge benefits for new market entries and established firms alike.

Simple solutions to a complex situation, perhaps, but still valuable knowledge to have at your disposal. If you are planning on making Russia your next market, or interested in the opportunities the nation presents, you and your business should heed these lessons well.

The responses from the companies surveyed painted Russia in brighter tones than the monochrome, restrictive palette of 2015. There is still a lot of developmental work to be undertaken by Russia’s government, food figures and international exporters alike. For now, the best advice to is keep in contact with any established partners you might have and ride out the economic storm.

Russia is a huge, hungry market. A little patience is needed, but the future is looking brighter than past years would suggest.

Read more: WorldFood Moscow Market Survey Part 1: Optimism on the rise


Read more: WorldFood Market Survey Part 2: Challenges & Opportunities

 

Related Article