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Role of MNCs in Changing Preferences for Food Consumption in Russia under Import Substitution

Author

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  • Veronica Yu. Chernova
  • Vasily S. Starostin
  • Galina V. Butkovskaya
  • Alexander M. Zobov

Abstract

The paper analyses the changes in the food market in terms of supply and demand in the context of import substitution and a decrease in the purchasing power of the population. It explores the reasons behind a rise in food prices, studies consumer preferences and criteria for choosing food products, and reveals the distinguishing features of Russian consumers’ behavior in the food market under the conditions of the import substitution policy. The article shows that, in general, multinational companies engaged in the food industry have managed to successfully integrate into the import substitution policy in the context of post-crisis development.

Suggested Citation

  • Veronica Yu. Chernova & Vasily S. Starostin & Galina V. Butkovskaya & Alexander M. Zobov, 2017. "Role of MNCs in Changing Preferences for Food Consumption in Russia under Import Substitution," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 158-166.
    • Handle: RePEc:ers:journl:v:xx:y:2017:i:3b:p:158-166
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    Cited by:

    1. Iwona M. Batyk, 2021. "Purchasing Behaviors of Consumers from third Countries on European Union Markets: A Case Study," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 1118-1133.

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    More about this item

    Keywords

    import substitution; multinational corporations; local brands; global brands; customer loyalty; food industry; consumer stereotypes; consumer preferences. JEL Classification: D12; L66; Q17.;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • L66 - Industrial Organization - - Industry Studies: Manufacturing - - - Food; Beverages; Cosmetics; Tobacco

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