Take with the secondary: buyers switch to second-hand items and rental
Russians have become more rational about their purchases. The high interest rate and unavailability of loans have led to a more frugal behavior of citizens. In Central Russia, sales of new clothes and shoes have declined, while demand for used goods has increased, according to the Central Bank's materials, which were analyzed by "Izvestia". People have also become more likely to rent equipment for repairs instead of buying it. In stores — and in the whole country — this trend has been confirmed. What else is changing in consumer habits and how profitable it is to buy in a retail store — in the "Izvestia" material.
How much has the demand for second-hand items increased
Russians have begun to take a more frugal approach to shopping, choosing inexpensive alternatives. In July, sales of clothing and footwear decreased in Central Russia, while demand for used goods in this segment increased, the Central Bank said in a report on the regional economy. At the same time, the demand for housing repair services, rental of construction tools and equipment has increased, it says.
Market participants confirmed the trend. As of July, attendance at fashion retail stores decreased by an average of 6% in Russia and 9% in Moscow over the year, said Mikhail Vasiliev, head of research and consulting at Focus Technologies.
"" Sales of women's clothing in retail this summer increased by 37%, and men's clothing — by 26% compared to the same period last year," reported "Izvestia" in "Avito". ""Planet Second-Hand" also confirmed the steady interest of buyers in the segment of used items to "Izvestia".
On average, clothes in retail are 35-40% cheaper than new ones. As a result, the buyer can combine the usual basic things with more interesting finds and at the same time not go beyond the planned expenses.
At the same time, some of the buying activity is redistributed to marketplaces. People try to buy goods there cheaper than in offline stores.
Due to this, Lamoda noted a 14% increase in sales of clothing and footwear compared to the previous year. Wildberries & Russ also recorded a slight increase in this segment — no more than 10% in the amount for the first half of the year. This is in stark contrast to some categories (automotive products, electronics, furniture). There, the dynamics can be even hundreds of percent. However, it cannot be ruled out that the increase in indicators is also associated with an increase in prices.
The more frugal behavior of Russians has also affected the demand for construction equipment. Instead of buying it, people began to rent equipment more often. According to the publication in "Petrovich" STD, in the summer the growth was 23% compared to last year.
The peak demand for rental of construction equipment has traditionally occurred during the warm season, when external and internal construction work is actively underway, the Central Bank explained.
Why Russians are more likely to choose used items
Such consumer behavior may be due to the fact that part of the population redistributes their budget in favor of inexpensive brands or focuses on familiar brands, but purchases them during discount periods, in outlets or on sale, the regulator's press service explained to "Izvestia".
The situation is also affected by the high key and still unavailable loans, experts noted. So, according to "Finuslug", in the week from September 10 to September 17, the average rate on unsecured loans was 34%. The overpayment on such loans is very significant, which stops Russians from making new debts. Moreover, in August, banks even raised the cost of consumer loans, despite the reduction in the key rate, "Izvestia" wrote earlier.
At the same time, against the background of increasing delinquency, banks are harshly assessing borrowers when deciding whether to issue money in order to reduce their risks. In addition, real incomes are growing more slowly than before, and increased inflation and fuel problems have shifted part of the household budget from clothing to more pressing items, said independent economist Viktor Mangazeev.
— The growing interest in equipment rental and repair fits logically into this picture: instead of buying new ones, people fix and update what they have. This is rational with slow income growth and high interest rates making loans for large purchases less affordable," he stressed.
This is not total savings, but a change in the structure of consumer spending, said Nikolai Perepelkin, Acting Head of the Department of International Business at Plekhanov Russian University of Economics.
— The average operating time of a drill over a person's entire life is only about 20 minutes. This means that it is easier to rent it for 5-10 minutes of operation. And the consumer understands this," the expert concluded.
In addition, the process of buying used items has become much easier in recent years, said Sofia Glavina, associate professor at the Faculty of Economics at the RUDN University. Transparent seller ratings, secure payment and logistics have erased the psychological barrier between buying new and used clothes, she noted. As a result, a new consumption pattern is successfully formed.
Another reason for the trend is the growing popularity of vintage items. As "Izvestia" wrote, the demand for them soared seven times in the summer.
In addition, the trend towards conscious consumption is developing, which is receiving additional impetus in the current conditions, said Linda Ryzhykh, associate professor of the Department of Management at the Presidential Academy in St. Petersburg. For example, if earlier buying at a second-hand store was often perceived as a sign of straitened circumstances, now it is increasingly positioned as a reasonable choice.
People come to such stores and sites for affordable prices, interesting brands, good compositions and unusual models, according to "Planet Second-Hand". The company also noted that items from the mass market, second-hand, Russian brands and more expensive brands can increasingly be combined in one wardrobe.
Even with the improvement of the economic situation, the habit of more rational consumption itself is likely to remain, says Linda Ryzhykh from the Presidential Academy. According to her, for some consumers, the secondary market and rent have already ceased to be solely a way to save money, becoming a normal model.
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