Sales of luxury goods and high-priced goods in Russia increased over the year In January-September, watches were sold 37.5 percent more than in the same period in 2020, mobile phones – by 27.9 percent, jewelry – by 26.6 percent, cars – by 24.8 percent. RBC writes about this with reference to Rosstat data.
Compared to 2019, Russians bought one and a half times more watches, smartphones and computers. Car sales showed an increase in relation to the dock period, soaring by more than a quarter. Mobile phones, computers, washing machines, cars, jewelry account for more than 11 percent of all retail sales.
At the same time, Russians are trying to save money on everyday goods and food. For example, sales of chicken meat, eggs, pasta decreased by 2-5 percent. Overall, retail trade turnover grew by 8.4 percent in real terms over the nine months. Citizens rushed to make expensive purchases, hoping, given the high inflation, to sell them profitably in the future, experts suggest. The second reason is that people want to protect the accumulated rubles from currency devaluation amid the uncertainty with the pandemic.
Food consumption has decreased in the country. Anatoly Tikhonov, head of the Center for International Agribusiness and Food Security of the Graduate School of Corporate Governance of the Russian Presidential Academy of National Economy and Public Administration, Anatoly Tikhonov, said earlier that Russians are eating less.