Russia: According to Deloitte in 2017 luxury shopping is up 11%

The Russians are returning to buy luxury goods, but they will do so in the shops of their cities, abandoning the trip to shopping capital. According to Deloitte, sales of luxury goods increased by 8% in 2016 and this year will increase by at least 11%. In addition to preferences, there are accessories, textiles and leather goods. From a survey conducted among wealthy Russians, 62% of them said they had increased their budget for luxury goods. Darya Yadernaya, general manager of Y Consulting, says clothing, footwear, accessories are the favourite products and that rising wealthy Russians spending is offsetting the mid-market buyers’ waiver, which represented a share of about 30 % Of sales. “In this period, we want to show that everything is fine, in life as in business,” said Yadernaya confirming the Russians’ tendency to buy at home because prices are lower than abroad. Italian shoemakers, also by the increased presence of trade fairs, have repeatedly declared themselves to see an improved situation in Russia. But it will not be so for everyone. The Italian shoe closed 2016 with an increase in the quantities exported to Russia by 13.6%, but with a further reduction of 4% volumes. Now there is waiting for data for the first quarter 2017.


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