Social Network for Russian Nouveau Riche
Russia is the new phenomenon in the world. Once become the world that close its door for capitalism in the Soviet era, now Russia becomes a federal country with wide open door to the world and with their new economic policy, they are wide open for foreign capitals and investors. Their new policy of privatization of state owned enterprises, lead to the new conglomerations and off course, new tycoons.
New economic policy in Russia creates an irony. In one side, most Russian people are living in poverty but in other hand, privatization and capitalism create Russian nouveau riche. Even though there is a slowing down in Russian economic, Merrill Lynch reported that there is a 17% increasing in upper class population with more than one billion dollars asset. Today, Russia has more than 103,000 billionaires. Even Moscow becomes the home of more billionaires than any other city in the world.
Russia society is very status oriented and off course that nouveau riche need to show off their success. No wonder, western high lifestyle becomes so popular in Russia. In Moscow, you can find boutiques of all couture brands. It is very easy to find exclusive sports cars on the street or premium stores that sell exclusive products. Off course their lifestyle hides an opportunity for web investors.
Unlike other countries with established economy, Russia has low credit card penetration. That is the reason why Russia isn’t friendly for e-commerce business. However, the status oriented Russian nouveau riche could be the promising target market. Web investors are trying to create a social network through which members could show off with their fellow billionaires. This network is also designed to allow them buy and sell everything from Ferraris to art and network. It is a perfect place for new Russian upper class to find people in the same level.
