Putin and Erdogan give positive assessment to joint efforts in Astana processWorld October 21, 3:03
Privileges to certain languages in Ukraine’s education law to worsen situation — diplomatRussian Politics & Diplomacy October 20, 21:46
International balance of forces in Syria after Raqqa’s liberation unclear yet — expertMilitary & Defense October 20, 21:05
Russia to resume import of aubergines, pomegranates from Turkey since October 30Business & Economy October 20, 20:18
International station to orbit Moon at 70,000 km distance from EarthScience & Space October 20, 20:09
US indulging in lies to have UN-OPCW mission’s mandate extended — Foreign MinistryRussian Politics & Diplomacy October 20, 19:31
This week in photos: Diplomatic kiss, Paddington's dance and French bank in flamesSociety & Culture October 20, 17:46
Scientific team unlocks secret to supercaps’ vast capacity as ‘the battery of the future’Science & Space October 20, 17:40
Russian economy’s losses from cyber threats may surge fourfold in two yearsBusiness & Economy October 20, 16:52
Consumer demand in Russia is moving towards greater maturity as people had covered their core needs emerging from the "hungry" years of the 1990s before the new financial crisis swept in. The result is falling demand and a transition to a more sensible shopping behaviour. Given the fiscal deficit and the risk of inflation shooting up, the standard tools to support consumers are unavailable to the Government. The ageing population is also a contributing factor, with the share of price-sensitive consumers going up. Against this backdrop, businesses opt for a targeted outreach.
The era of booming demand in Russia is over, ousted by what is increasingly referred to as “saturation” and “cherry-picking”.
This is concerning for authorities and businesses alike, who understand that Russia’s GDP is currently more than 50% reliant on end-consumer demand. However, the traditional support tools are increasingly more challenging to apply.
Add the challenge of an ageing population, and the picture will be complete.
The current environment forces businesses to review their strategies:
Responding to the saturation of demand, businesses are adopting ever more customised approaches to consumers.