In Russia, the market for counterfeit luxury products fell by 12% in 2020. But its turnover still remains higher than that of original products, which fell by 15%. According to BrandMonitor, which carried out the study, non-original products are mainly sold in physical stores, with a 70% share of the total. But online sales (30%) are on the rise, thanks to social networks. It should be noted that, as far as sneakers are concerned, 30% of those sold are fake.
A little less fake
In 2020, the Russian market for counterfeit luxury clothing, footwear and accessories decreased by 12% to a value of approximately 2.75 billion euros, says a BrandMonitor study based on an online survey of luxury goods buyers and an analysis of over 10 million posts on social networks. Russians buy fakes: clothes (32%), shoes (17%), bags (15%) and perfumes (12%). The decrease in the volume of business, analysts explain to kommersant.ru, is due not so much to the pandemic, as to a lower interest in the fashion segment as a whole.
In fact, as Fashion Consulting Group (FCG) explains, the “regular” luxury market in Russia decreased by 15% in 2020, reaching a value of 2.59 billion euros. Therefore, and in any case, less than what was collected by the illegal counterfeit circuit. Moreover, all this despite the mandatory labelling system, which “is unable to track goods sold outside the cash register”, says Anna Lebsak-Kleimans, CEO of FCG.
30% of sneakers are fake
The most striking and dramatic case is that of sneakers. For 2020 BrandMonitor estimates that the Russian fake sneaker market has reached the value of 700 million euros, compared to 1.67 billion euros spent on the original models. Proceeds are 18% lower than in 2019, but takes 30% of the market away. Fake purchases take place offline for 60%, where over 25,000 irregular points of sale thrive. The remainder is made online. In particular on social networks, where tracking sellers who use fake accounts is practically impossible.
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