Possible Scenarios of Russian Luxury Market Development under Economic Uncertainty and Turbulence

Bibliographic Data

ID12968427
AuthorsИрина Скоробогатых (0000-0002-1206-4509, Plekhanov Russian University of Economics, corresponding author), Эльвира Владимировна Тарасенко (0000-0001-9233-593X, Plekhanov Russian University of Economics), Irina Shirochenskaya (0000-0002-5919-2313, Plekhanov Russian University of Economics)
Year2015
Volume7
Issue9
Publication date2015-05-22
Open AccessYes
TypeARTICLE
VenueReview of European Studies (JOURNAL)
Journal identifiersISSN: 1918-7173 • E-ISSN: 1918-7181
PublisherCanadian Center of Science and Education (PUBLISHER)
DOI10.5539/res.v7n9p131
OpenAlexW1586827111
LanguageEN
References cited3

Unstable political and economic situation in Russia and in the whole world affect all the product markets. In 2014 in Russia, the downturn of purchasing activities of customers was registered and as a result the decrease of the sales on the auto moto market, the retail market as a whole were registered as well. The market of luxury and premium products and services is also affected by economic uncertainty and turbulence. Experts had forecasted the changes in the consumer behavior and turn of the consumers to the less expensive and prestige products and services. This article is describing the typology of consumer behavior in Russia during economic unstable external marketing environment and turbulence. It also gives the description of possible scenarios of the Russian luxury market development during the period of economic sanctions

Business · Economic sanctions · Economics · Factor market · Macroeconomics · Market economy · Nonmarket forces · Politics · Product (mathematics · Purchasing · Recession · Typology · Cultural, Linguistic, Economic Studies · Economic and Technological Developments in Russia · Regional Economic Development and Innovation · Marketing

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Open DOISci-HubOpen Access