The Russian consumer market is in a phase of stagnation and, in the absence of sharp negative changes, the reduction of the Russian fashion market this year could be from 0 to 2%. This forecast was given by Anush Gasparyan, Commercial Director of Fashion Consuting Group, during his recent speech at the Russian Fashion Retail Forum.
According to the Fashion Consuting Group, this year more than 70% of Russians have significantly reduced their expenses on clothing and footwear, and about 12% have completely abandoned purchases of these goods. The consequence of this, according to the expert, was the preservation of the negative dynamics of imports of fashion goods to Russia in the first half of 2016: clothes -5%, shoes - 8%.
Anush Gasparyan believes that at the moment there are all prerequisites for the development of domestic production in the field of clothing and footwear. According to her, the favorable factors for this are the growth of national self-awareness on the part of buyers and a higher rating “made in Russia”. Factors such as retailers' search for opportunities to transfer production to the ruble zone to reduce costs and distributor-importer attempts to offset the drop in foreign currency imports in the ruble zone also had a positive effect.