Ruble Plummeted, Purchasing Luxury Stores, Rising Prices Can'T Catch Up With Depreciation?

"I've never seen so many Chinese in Moscow for so many years, just like shopping in China."

Due to the collapse of international oil prices, the economy of countries which rely heavily on oil revenues has been hit by economic reasons, coupled with Western sanctions and other political causes. Russia's economic turmoil has plunged and its currency has fallen by nearly 50% throughout the year.

If compared with the exchange rate of RMB and rouble less than 6 a year ago, for Chinese, shopping in the local area is equivalent to enjoying 80 percent off super low price.

Luxury goods, electronic consumer goods and so on can not stop the bad luck of the rouble fall.

When ruble fell to nearly 60 points last week, the prestigious "Mu" department store on the Red Square in central Moscow has been surging. This high-end shopping mall is famous for selling world-famous brands. Shops like Gucci, Hermes, Tiffany and so on have changed a lot of past customers and queues have been queuing up.

However, the more real situation is that the luxury goods makers are going to close their doors to raise prices in order to maintain their status.

Now it seems that the price increases can not catch up with the depreciation, but it is not clear next.

18 morning news, the ruble exchange rate rebounded, or 12%, the biggest increase since 1998.

Economists warned that when the rouble falls, traders are advised to settle accounts in Renminbi or US dollars and euros to avoid exchange rate risk, reduce commodity exports and tap business opportunities for low cost consumer goods.

This year, the ruble currency has plummeted by 50%. Many brands once appeared "cabbage prices". For example, at the end of October, a pair of Nike shoes only needed 200 yuan.

Since November, some luxury brands have begun to raise prices in response to the ruble depreciation. For example, LV and Dior have increased their prices three times, nearly 30% of the price increase, while the price of Cartire's several gold rings has increased by 50%.

On the 17 day, Cartire closed shop and was expected to raise its price after reopening.

Gu Mu shopping center also reported that the price of goods had been raised by 10% in general, and prices continued to rise next week.

The most important concern in electronic products is iPhone.

In November 28th, in response to the ruble's depreciation, Apple Corp raised its iPhone price by 25%.

And now it simply closes its official website in Russia.

Reporters to many

Purchasing understands that the physical store iPhone is basically out of stock, and businesses with goods are simply not priced. They need to ask the salesperson the price of the day.

A Moscow

It said that the price of iPhone6 plus of 16G was 46990 rubles, which was equivalent to 681 US dollars before the website was closed. The price we asked yesterday was 54000 rubles, which was equivalent to 904 US dollars.

With 15%-20%'s purchase fee, if it's not for stock, it will cost RMB 6500 yuan, while Apple's official website is priced at 6088 yuan.

Originally in the area of Ya Po Road and rtin road.

Most of the merchants are engaged in clothing trade with Russia and Eastern Europe.

Reporters once visited a fur store, which previously said they only traded abroad instead of retailing.

When reporters came here again today, the story of merchants changed.

"If you bulk purchase, we can discuss the price."

The staff in the store admitted that they were just beginning to serve the domestic customers. Most of the clothing sizes in the shop were "Russian version" before, because they were mainly for Russian trade. They were not suitable for Chinese people's body shape. However, such problems as hats and scarves did not need to be considered.