Russians wish to receive money as gift, but their expectations will not come true
Moscow, Russia, 8 December 2016. Deloitte CIS would like to present the findings of our 19th annual international survey of consumer spending over the Christmas and New Year holiday period. Russia participated in the survey for the 10th consecutive year.
The survey presents the analysis of the purchasing power and structure of the surveyed Russians’ holiday budgets, and examines the behaviour of Russian consumers when shopping for holiday gifts as compared to consumers in other countries that participated in the survey.
“Despite the continuing decline in the purchasing power, the Russians are planning to treat themselves during the winter holidays; the holiday budget will grow 2 percent this year as compared to last year’s actual spending. Online shopping has become more popular – as many as one third of the Russians are planning to purchase their holiday gifts online. Specialised chains and hypermarkets will also benefit during the holiday season – 29 and 25 percent of the Russians, respectively, are planning to shop in these types of stores,” said Vladimir Biryukov, Audit Partner, CIS Retail, Wholesale and Distribution Leader.
Some of the survey highlights are presented below.
Consumer perceptions and purchasing power:
- According to the survey, the average Russian’s planned holiday budget amounts to RUB 16,900, which is 2 percent higher than last year’s actual spending (RUB 16,500).
- The average Russian’s holiday budget structure is expected to remain unchanged: gifts – 43 percent, food and drinks – 45 percent, and entertainment – 12 percent.
- The share of Russians who believe that the economy is in the recession has increased from 54 to 66 percent. This represents the most pessimistic outlook on the economy in the survey’s history (since 2006).
The expectations of Russian consumers and the gifts they are likely to receive for New Year:
- As last year, money is by far the most desired gift (men – 64 percent, women – 69 percent). Traditionally, a smartphone is men’s second choice (45 percent) while women’s is travel (52 percent). However, they are more likely to receive chocolates (51 percent) and cosmetics (48 percent), respectively.
- Food and drinks made their way up from 10th to 4th place in the ranking of other popular gifts purchased for adults.
Russians’ preferences when it comes to using the Internet and smartphones for shopping:
- The share of Russians planning to shop for gifts on the Internet has increased from 23 to 31 percent. 56 percent of New Year travel packages and tickets will be purchased online.
- 46 percent of the Russians had been planning to take advantage of Black Friday deals while 13 percent of the Russians had never heard about Black Friday.
Deloitte CIS is one of the leading international professional services firms that offers audit, consulting, corporate finance, enterprise risk, and tax and legal services leveraging professional experience of approximately 3,400 employees in 19 offices of 11 countries across the region. Today, Deloitte has offices in Moscow, St. Petersburg, Ekaterinburg, Ufa and Yuzhno-Sakhalinsk (Russia), Kiev (Ukraine), Minsk (Belarus), Tbilisi (Georgia), Baku (Azerbaijan), Aktau, Almaty, Astana, Atyrau (Kazakhstan), Bishkek (Kyrgyzstan), Tashkent (Uzbekistan), Ashkhabad (Turkmenistan), Dushanbe (Tajikistan) and Yerevan (Armenia).