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In Russia, sales of clothes and shoes fell
In Russia, sales of clothes and shoes fell sharply. The last time analysts recorded such a low demand for these products in 2015. Experts attribute this phenomenon to lower incomes, higher VAT and inflation.
According to Kommersant, citing data from a consulting agency in the fashion industry Fashion Consulting Group, sales of clothes, shoes and accessories in Russia fell by 3-4% to 2,26 - 2,29 trillion rubles. Experts noted a similar decline four years ago, when the market turnover declined immediately by 9%.
According to the National Bureau of Credit Histories, the average debt burden of Russians in 2019 was 24,6%, inflation according to Rosstat - 3%, VAT increased from 18 to 20%. All these factors, experts say, have affected the purchasing power of the population. The funds that people can spend on clothes and shoes continue to decline, these costs remain the main item of savings in Russian families.