When the going gets tough the Russians go shopping. With the rouble in turmoil and inflation set to get much worse, customers have rushed to spend their rapidly depreciating currency on consumer goods such as plasma TVs, tablets, smartphones and even luxury cars, just as they did in 2008 and 1998.
Retailers have been torn as to how to respond. Apple suspended online sales of iPhones, iPads and computers in Russia on Tuesday. Yesterday, visitors to its site were greeted with a message in English and other languages, but not Russian, saying “We’ll be back. We’re busy updating the Apple Store for you and will be back soon.” The company said in a statement that “due to extreme fluctuations in the value of the rouble,