30 Ноябрь -1
Russian market:: Pay more attention to retail sales
Following the year 2007, export of watches to Russia seems to stop in one place. What is going on and what can we expect to happen in the Russian market? After the supply crisis of 2005-2006, Russia demonstrated a considerable jump: + 49%. However the first six months of 2008 were not that much inspiring. The first half of 2008 is characterized by 8% revenue growth and 7 % quantity decrease. This is almost stagnation. What has happened? Did Russians stop buying watches? Of course, they did not. They are buying and will be buying them in the near future. While oil price is about 100 USD, Russia is provided by a considerable money inflow, which will partly be spent on watches, jewellery and other Luxury goods. At that the demand is unstable, which is explained by the following factors. The basis of Russia's wellness is natural resources. And, like in other countries which economy depends on raw materials export, people in Russia differ a lot in income. Most part of the population has not more than 500 USD monthly salary, and at the same time Russian oligarches are buying houses and palaces in Europe, most expensive cars and yachts...