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Russians massively buy electronics on credit amid falling ruble

In the beginning of 2016 in Russia is atypical for January, the consumer behaviour of the Russians EN masse to take out loans for major purchases in retail chains. About it reports “Kommersant” with reference to data of participants of the banking market.

In particular, HCF-Bank and Bank “Renaissance credit” the publication reported that in January 2016 issued by POS-loans (loans at products directly to retail outlets) for the same amount as in November 2015 (7 bn in HCF-Bank, and 3 billion rubles in “the Renaissance the credit”).

In Alfa-Bank expect that the January issue will even exceed the November indicators. According to Director on development of mass segment of Alfa-Bank Dmitry Induce, in January, the Bank anticipates the issuance of 4 billion rubles, while in November last year gave out such loans to 3.6 billion rubles.

Bankers say that especially the Russians actively bought in January, electronics and home appliances, as in the midst of the collapse of the ruble a year ago, with the only difference that now it is increasingly done on credit, and not at your expense.

Market participants attributed the unusual behavior of consumers several reasons. “Electronics and home appliances mostly imported and due to the rising exchange rates can rise in price faster than other goods, such as furniture or clothing that fuels the demand,” — said the publication Chairman of the Board of HCF-Bank Alexander Antonenko.

“Against the background of weakening of the ruble, some retailers have raised prices by 30-40%. As a result, many citizens in anticipation of the next round of growth of prices decided to buy goods in advance,” says senior Vice-President for development of banking products and marketing the Bank “Renaissance credit” Evgeny Lapin.

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Retailers are also seeing an increase in demand in January for home appliances and electronics. Buy more on credit and less expense they explain the significant decrease in 2015 income people and their level of purchasing power. Others believe that the role played by the active promotion of programs of crediting retailers in January 2016.

Meanwhile, retailers have already noted the shortage of iPhone. In re:Store and the “Connected” there is a shortage of 64-Gigabyte iPhone 6. Because of the demand for “six”, now this device is not available in all sales points of “MegaFon”. In the online store “Beeline” there is a shortage of iPhone 6s with 64GB. The reason is high demand for the iPhone in December and early January.

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