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During the crisis, the loan offered even on inexpensive shoes


photo: Alexei Merinov

People in Russia are rapidly becoming impoverished. So fast that it began to notice even in the government. Last week Prime Minister Olga Golodets in his speech at the Russian business Week said:

— We have indicated a very sharp drop in incomes and real wages and incomes generally. This trend is reflected in the lower purchasing power, and this trend is reflected in retail turnover, which is reduced.

To see this fall is not far to seek. Enough to walk through any shopping centre. Sellers of jewelry stores pining over the counter and toil from idleness. Sellers of expensive clothes and shoes are thrown to each customer, like a drowning man to a lifebuoy, and ready to carry you in cash at hands.

That though as-that to lure customers, one of the networks selling expensive shoes, now in its third year, offers customers a system of payment, as installment. To resort to it the network marketers are suggested, when the dollar goes up. Conditions gentle. You need only a passport and phone. The first instalment for the purchase in a month. The EPP term 3 or 6 months at the request of the buyer. Interest is not accrued. Basically the idea is that you favourite shoes for a 9000 you can just put on and leave, and then to pay 1600 rubles per month for six months certainly pleasing to every woman. However, it should be remembered that for each day of delay you will pay a fine of 500 rubles for each day of delay. Microloans — the microloan he is.

All this would be merely an interesting economic observation if practice installment not had to use a chain of Shoe shops selling a much cheaper footwear. What Muscovites are forced to resort to using the installment when buying shoes for 2000-3000 rubles, speaks for itself.

Credit terms — the same 3-6 months, with no down payment and interest. However, in the questionnaire for the Bank will have to provide two guarantors and to wait about 15 minutes until the Bank approves your loan. Another mA-a-a-lenky nuance. Sellers are in no hurry to inform about the penalty for late payment. And she’s still the same — 500 rubles per day of delay.

— In Russia, in small towns about 45% of the population lives on credit, and 23% of residents can’t pay off the debt, according to analysts of marketing Agency Step by Step. — In the situation of economic instability, consumer ability of the population decreases more at a remarkable pace, this has an impact on the inhabitants of megacities. When people don’t have enough cash, to buy want, they resort to the help of friends and relatives and borrowing, i.e., using informal institutions or appeal to formal structures — banks, microfinance institutions (MFIs), in the extreme case, in pawn shops.


photo: Natalia Gubernatorova

For its part, the stores are beginning to offer to buy goods not only in credit, but in installments: if this option was more concerned about things like large and small appliances, we recently had the opportunity to purchase in installments and the goods are more frequent, casual consumption — clothes, shoes. First it asked the players of the regional markets, which is associated with lower consumer capacity of the population. Installment, especially with the promise of low down payment, simple and easy procedure can be a trivial trick for the unwary buyer. The proposal for instalments may be advantageous for the seller, while the consumer creates a false illusion of ability to buy goods here and now. In fact, in modern economic conditions there is no guarantee that the person will indeed be able to settle with a store that will subsequently tighten it in a credit pit.

EXPERT OPINION

— For the Russian footwear market is characterized by high amount of shadow segment, comparable in such share on the alcohol market, says financial analyst «FINAM» Timur Nigmatullin. — As a result, the range of estimates of the market pairs of shoes is 500-600 million pairs, and in money — 11 to 18 billion dollars. 85-90% of the market accounted for by imports. In 2015 the Russian market of shoes has decreased by about 10-20% compared with the previous year, as households postponed the purchase of durables due to the decrease in real income. Let me remind you that in 2015 the real incomes of the population decreased by 4% and real wages — by 9.5%.

I do not exclude that the service will be popular in the regions, especially in small communities. However, in large cities the number of such purchases would be immaterial, since many buyers already have a credit card. In developed countries microcredit is also not common due to the high penetration of credit cards.

— In principle there is nothing strange in the sales of shoes on credit, — said the Deputy Chairman of the Board Loko-Bank Andrey lyushin. — The system of lending on certain products directly in sales points in Russia, there has been successfully developed. In the largest cities now purchase any of the goods — from food to clothes and household appliances — by using lending products for a long time already not a novelty. Subject to availability to pay with credit card on credit you can buy anything. The service is popular and continues to grow, even despite the growing arrears on consumer loans.

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