Russians Combat Crisis by Spending
Russian spending habits, as I learned when I was over there, are … peculiar. But ultimately rational based on their set of circumstances.
Russians are reacting to the economic crisis by spending. 23 percent of those with savings secure them by investing in long-lasting consumer goods to secure themselves against the declining rouble.
You don’t know what tomorrow could bring,” says 33-year-old Alexei, logistician at a Moscow chain dealing in car parts: “In Russia you definitely don’t know.” In the prosperous years, Alexei had a feeling of stability and developed a mind for thriftiness and saving. Once the crisis arrived, he went straight back to making his dreams tangible: In a flash, the cheap Mazda was sold and a new Honda Accord was parked in the Garage: “I can have what I want in an instant, why wait?” says Alexei.