The major changes occurred in last 10 years:

The major changes occurred in last 10 years:

· Major increase in transport expenditures approximately 10%

· Increase in spending on leisure activities and services

· Decrease spending on food

· Increase in consumption in Russian brands.

All of these changes are influenced by changes in economical context.

However, disposable income in Russia (appr. 17230$ per annum) less than the OECD average of 23 938 USD a year. It should also be taken into account that disposable income in Russia is distributed unevenly, there is a considerable gap between the richest and poorest – the top 20% of the population earn six times as much as the bottom 20%

In early 2014 Russia and Ukraine were involved in a military conflict, which made the EU and the US become put economic sanctions onto Russia as a punishment for invading Ukrainian land of Krimea. All these sanctions have had an extreme effect on the whole economy of the country as well as individual expenditures. The main cause is the sudden drop in the Ruble price of nearly 100% in relation to all foreign currencies, especially Euro and US Dollar, all happening in less than a year. The interest rate in Russia increased from 7% to 15% in less than a year and the inflation rate from 6.2% to 15% in the same time period. This is a major cause to sudden price changes on all personal products, especially on all imported goods, as they become scarcer. 
These changes influenced reduction in standard of living of Russian citizens, whereas demand for foreign products still high.

Дата добавления: 2015-09-28