Branding agencies in Russia

PR agencies (Russian market)

Main article: Article:PR agencies (Russian market)

Chronicle

2023: The Russian market for brand promotion services grew by 22.6% to reach ₽17,9 billion

In 2023, the volume of the Russian market for brand promotion services grew by 22.6%, which indicates a resumption of activity in the branding services sector after a number of difficult years. This became known in the summer of 2024.

According to a study conducted by the agency for market research and business plans "GuideMarket," the total market volume reached ₽17,9 billion. Growth in this sector is accompanied by positive dynamics against the background of an increase in the number of new brands and an increase in the digital transformation of business in Russia.

According to GuideMarket, the market for branding agency services in Russia has undergone significant changes over the past few years. In 2020, the market volume amounted to ₽16,6 billion, which was due to the growth of the number of companies seeking to update their image in accordance with new trends. However, in 2021, the market declined to ₽15,1 billion, which was due to the high base of the previous year and restrictions caused by external factors. In 2022, the volume decreased to ₽14,6 billion, the decline in growth rates was 3.3%, and taking into account inflation, the reduction reached 23.3%.

Despite this, 2023 was a period of recovery and significant growth for the branding agency market in Russia. The market volume increased to ₽17,9 billion, which reflects the activity in the segment associated with the launch of new brands and the adaptation of the business to the changed conditions. The main factors contributing to the growth were the increased use of digital technologies, the growing popularity of marketplaces and the increasing importance of brand personalization. In addition, it is important to note the growth in demand for the creation of brands focused on marketplaces, and the continuation of the trend for the Cyrillization of brands.

Experts note that an important trend in 2023 was the emphasis on strengthening team brands and HR brands, as well as the growing importance of the personal brand of managers and employees. Consumers are increasingly paying attention to how brand values ​ ​ match their own, and strengthen communication with the audience and make it more personalized.^[1]

Notes