Slaking Russia's taste for consumer goods

The transcript discusses Sergei Ivanov's long wait for a car in Russia, reminiscent of Soviet-era waiting lists. This situation is part of a larger consumer boom in Russia, driven by increased petrodollars and consumer spending. Retailers are experiencing growth, with more customers and higher sales. The boom is supported by rising salaries and the availability of short-term loans and credit cards, allowing consumers to spend beyond their means. However, this growth is not uniform across Russia, with many still living in poverty and average salaries remaining low.

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