Demand for luxury goods and services grows in Russia

In the 10 months of 2021 , the number of goods worth 500,000 rubles purchased in Russia increased sixfold , and the turnover of online stores increased 6.3 times compared with the same period in 2020.

According to YuKassa 's survey, the largest increase in purchases compared to 2021 was in the brand-name clothing and footwear section of well-known fashion companies, which increased 19 times. Air tickets ranked second, increasing 4.9 times , and insurance services entered the top three with a 2.5-fold increase.

In the price range of 100,000 to 500,000 rubles, online website sales increased by 2.1 times and the number of buyers increased by 2.3 times.

In addition, Russians' interest in travel agencies and hotel booking services increased most significantly, with both market segments growing by about 3.7 times, and various travel equipment related to them also increased. Sales of high-end home appliances and electronic products also increased by about 3 times.

The demand for goods and services worth 80,000 to 100,000 rubles is slightly lower. In the 10 months of 2021, compared with the same period in 2020, the number of purchases increased by 64%, the turnover of online stores increased by 63%, and the number of users paying for purchases in this price range increased by 79%.

The number of purchases of goods worth 50,000 to 80,000 rubles increased by 58% , the number of buyers increased by 65% , and the turnover of online stores also increased.

The CEO of fintech company UMoney said: "Usually, buying high-quality goods is a choice that favors new technologies, non-standard solutions and designs, and is also an opportunity for investment . Many people prefer to go to stores in person to buy luxury goods, but the epidemic has formed the habit of paying for such products online, and the increase in demand is proof of this. "

According to him, over the past five years, purchases of quality goods and services have increased ninefold, and online store turnover has increased 9.9 times.

Take AliExpress Russia for example. During the Double 11 period, sales on AliExpress Russia reached 33.3 billion rubles, and more than 25.6 million orders were placed during the sales period. As of November 11, the number of daily active users exceeded 12.5 million, breaking AliExpress's record in Russia.

Russian e-commerce is in the development stage, and relevant sellers should also make good market layout based on local conditions.

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