• Ulyana Sergeenko

     

     

Ulyana Sergeenko

 

 

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The Russian luxury market is coming back

lifestyle & tra…luxury

15 December 2016
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The luxury market in Russia is now estimated at 3.5 billion euros, following a 5 percent increase in sales compared to last year, which represents 1.4 percent of sales of Luxury in the world. Although consumers of Russian luxury goods spend on average 60 per cent more than their international counterparts, Contactlab has noticed that surprisingly, the leading luxury brands are making little effort to reach Russian consumers.

Contactlab's team of specialists conducted a study of 32 brands and ranked them according to different criteria. The study highlights the strengths of Burberry, Louis Vuitton and Loro Piana in the key areas of the online customer experience. These brands are doing well in areas such as the creation of Russian Internet sites, mobile Russian-language applications and a selection of adapted products among other criteria. The study also shows that surprisingly, Dolce and Gabbana, Burberry and Swatch are the only international brands that involve Russian consumers on social media such as Twitter and VK (Russian social media).

E-commerce is probably the area with the most growth potential for Russian luxury brands. The rate of e-commerce penetration in Russia (as a percentage of total sales) is still lagging compared to other international markets, with the world penetration rate of 7 per cent in 2015, Reached 2.5 per cent. 19 brands offer Russian websites, but some companies such as Valentino, Hermés, Chanel, Prada and Zegna rely on their international website and do not make the effort to adapt their content to local consumers.

Massimo Fubini, CEO of Contactlab commented: "The Russian market represents an incredible growth potential for international luxury brands. Some brands still struggle to conquer the Russian market and do not seek to create links with local consumers. It is surprising that there are few international brands that are present on Russian social media, whereas it is a key area to reach consumers in a personalized manner and to develop a relationship with the brand. "

In addition, the study reveals a gap between the different brands of luxury goods in terms of customer service. To date, only 4 brands offer customer support by email or telephone in Russian. Chanel, Hermes and Prada are obviously lacking in local customer service.

Massimo adds: "As we have already seen, e-commerce in the luxury sector remains an untapped market for many brands, as a large number of Russian consumers are not included in the Strategies of brands. We were surprised to see that some companies do not offer complementary newsletters, content and URLs adapted to the country. Armani is an exception to this, showing the example by offering adapted content that really speaks to the local market. "

"Certain brands are clearly leaders when it comes to offering a complete service to Russian consumers, it goes through telephone and email assistance, personalized services such as tips or point-of-sale appointments. To leave its mark in this market, brands must strive to offer a multitude of services and ensure that customers feel valued and protected in their shopping experience. "

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