As inflation in Russia soars to over 9.5%, consumers are increasingly turning to consignment shops and repair services to save money. Young Russians are significantly reducing their spending on travel and luxury goods, opting instead for cheaper, used alternatives. The economic situation resembles the Soviet era, according to economist Igor Lipsits, who claims real inflation rates are much higher than reported. Demand for second-hand and luxury goods continues to rise, particularly since the departure of Western brands post-sanctions, with sellers looking to recoup expenses while buyers seek bargains.
In the context of rising costs and inflation, the appeal of consignment stores and second-hand markets in Russia is surging as consumers seek affordability.
The economic landscape in Russia today is increasingly reflective of Soviet times, with a growing market for second-hand goods and repair services at the forefront.
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