70% of Russia’s population switched to cheap goods, thus, the share of Russians, who see prices as the key indicator when selecting products, has reached record levels, according to experts of Sberbank CIB, RBC reports.
A study, conducted by Sberbank CIB (Ivanov Consumer Confidence Index), shows that buyers are more likely to go to stores of major retail chains in the search of goods, sold under promotions; the percentage of such Russians is 44%.
Sberbank CIB estimates the cost of celebrating the New Year’s Eve per person at 7,000 rubles, that is 1.4% below the level of 2014. In addition, now Russians visit more stores before the holiday, trying to find a better price.
“Consumers’ sensitivity to prices has reached the absolute maximum of 75%, and buyers seek to choose a better offer. In 2014, they visited 2.3 stores of retail chains on the average; this year, the figure is 2.6,” Sberbank CIB’s experts note.
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