BUSINESS

LACK OF SAVINGS

Clothing was a low priority during quarantine

RUSSIA

July 2020

Contributor: MAKSIM MEDVEDEV

According to a number of case studies, more than 60% of Russians do not have monetary savings. Therefore, it seems unlikely that consumers will be splashing out. PROfashion conducted a survey among consumers. Many of them said that there was no need for clothing during quarantine. In April, clothing sales in Russia fell 90%.

TSUM Moscow

STREET & FASHION

LOOKING FOR DISCOUNTS

Today, consumers are primarily interested in the price

RUSSIA

July 2020

According to our survey, during quarantine, Russian consumers bought children’s clothes, home clothes, clothes for sports and yoga in online stores. The decisive argument in favour of buying casual clothes was the availability of good discounts. Due to the collapse of the ruble and a vague future, some consumers decided to stock up on things for the future and bought clothes and shoes of European brands at great discounts. In late May and early June, offline stores began to open in Russia. As the boutique owners informed us, there are very few customers, and sales compared to the pre-crisis period have decreased by no less than 80%.

Some of our respondents said that they are buying products of small local brands or private craftsmen, or plan to do this when there is a financial opportunity. The problem is that niche brands are not always able to respond to the needs of a wide range of consumers. Most often, local brands offer a small assortment and size range. In addition, today consumers are primarily interested in the price – if the price of clothes suits the client, then he does not care where the clothes are made.

Dilbar

Krylia

Rudermel

SUSTAINABILITY

CLEANING OUT THEIR CUPBOARDS

Rental clothing will become a necessity

RUSSIA

July 2020

In quarantine, people took time to look at and sort out their wardrobes, trying to understand what they really needed. Clothing rental services are currently forecasting a big future, because the economic crisis has strongly distorted purchasing power. However, it should be remembered that consumers choosing rental is not the result of desire, informed consumption and sustainability, but an economic necessity. For the same reason, Russians will travel less. They want to visit other countries, but at the moment many do not have money for this.

Jeans Revision

Go Authentic

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