Source link : https://london-news.net/russians-brace-for-frugal-new-year-celebrations-amid-economic-strain/
Russians are planning to reduce their expenditures on New Year’s festivities in 2025 due to economic challenges, as reported by the Kommersant business newspaper citing consumer surveys and expert insights.
According to a survey conducted by the online marketplace Avito, households anticipate spending an average of 14,000 rubles (approximately $175) on holiday preparations. This amount encompasses expenses such as food and ready-to-eat meals, decorations, clothing, gifts, as well as venue and equipment rentals.
This represents almost half of what was projected for New Year’s 2024, when Russians aimed to spend around 26,000 rubles ($325), with approximately 17,500 rubles ($219) allocated for food and 8,500 rubles ($106) for gifts, as reported by market research firm Nielsen.
The increasing inflation rates and rising costs for food, utilities, and clothing have led consumers to adopt a more frugal approach, according to Alexander Safonov, a professor at the Financial University under the Russian government. He noted, “People are limiting their purchases and expenditures, even during festive times. Regardless of income levels, the prevailing trend is to cut back on spending.”
Food expenses remain the largest burden, but consumers are shifting towards lower-priced products and forgoing luxury items. According to Safonov, red caviar, which averages 10,200 rubles ($128) per kilogram, has become a luxury that most households can only afford to include in a limited,…
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Author : rimmaruslan98@gmail.com
Publish date : 2025-12-19 15:13:00
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