Recent consumer research in Russia shows a broad embrace of installment financing. In a survey reported by Gazeta.ru, roughly 72% of respondents indicated that they use installment plans to complete purchases rather than paying in full upfront. The study highlights how installments have become a common feature of everyday shopping, not just a niche option offered by a few lenders. The data suggest that this approach helps households spread the cost of needed items and manage monthly budgets, especially when prices rise or paydays are irregular. The findings reveal a wide spectrum of borrowers who rely on installment options for both durable goods and discretionary items and show how the availability of these options shapes what people buy and when. The report looks at trends over time and what they mean for consumer decisions and debt risk in Russia.
Installment plans described in the research are offered by a broad spectrum of providers. Retailers and online platforms routinely present installment terms, while banks promote credit tools alongside card offers. For some service providers, such as dental clinics or travel agencies, these options make larger services more accessible. Although terms vary by lender and product, the central idea remains the same: splitting a payment into smaller, regular installments can reduce upfront costs and improve purchasing power. The diversity of providers means many shoppers encounter installments across multiple sectors, from electronics to healthcare, which helps explain the growing popularity of this financing method.
Participation patterns show a diverse picture of usage. About 31% of respondents reported using installments once or twice a year, while 22% did so more often. Another 19% rely on installments for almost every major purchase. In contrast, 28% said they never used an installment plan. These figures illustrate how different financial needs and risk tolerances influence the decision to borrow in this way. Some households treat installments as a temporary bridge for single purchases, while others weave them into routine spending habits.
Home appliances and electronics emerge as the most common targets for installment payments, with 41% of participants financing such purchases. Clothing, shoes and cosmetics are next on the list at 27%. Car repairs come in at 12%, followed by medical services at 9%, travel at 6% and training at 5%. The pattern underscores how essential goods and services, as well as moments of repair or upgrade, drive the demand for favorable payment options. Consumers appear to weigh the price of necessity against the cost of borrowing, choosing installments when the total outlay would otherwise be difficult to manage.
Credit card usage is also shifting among the respondents. About 34% said they have started using credit cards less often, while 31% prefer relying on a single installment plan rather than a card. Another 26% continue to use credit cards, and 9% do not use credit cards at all. The distribution points to a nuanced landscape where borrowers balance the flexibility of installments with the benefits and costs of card-based credit. The trend mirrors broader discussions about managing debt and selecting the right tool for each purchase.
Industry commentary notes notable moves in application activity. In January this year, credit card applications in Russia fell by about 36.5% versus the same month the previous year, but February brought a rebound with a roughly 20.9% increase. Analysts say consumers are selecting credit vehicles to meet specific needs and often blend several financial options to maximize value and minimize costs. Anna Romeenko, director of the Financial Market Policy Communications Department, emphasizes that behavior reflects careful decision making rather than mindless borrowing.
The survey engaged around three thousand Russians, a sample that provides a snapshot of how payment choices are evolving. The data illuminate how households calibrate risk, price, convenience and timing when deciding whether to use installments or other credit instruments. While installments offer clear advantages in spreading cost, they also carry potential pitfalls if repayment schedules clash with income cycles or unexpected expenses.
Early remarks from the Central Bank cautioned about the dangers associated with installment arrangements. Officials warned that easy access to credit can lead to over borrowing, higher debt service and stress on household budgets if not managed carefully. The message stresses prudent buying, attention to terms, and ongoing monitoring of repayment obligations to maintain financial stability.