Real-time retail consumption tracker for November 16 - 22, 2020
SberIndex analysts are inclined to believe that the upcoming Black Friday scheduled for November 27 will be a rather weak one because of the suppressed dynamics of consumer spending between November 16 and 22. The metric slid 9.0% y-o-y after losing 7.7% y-o-y a week before.
Analysts observed some deterioration in the non-food retail sector last week (–4.8% y-o-y). The dynamics in the Home Appliances and Electronics category are normalizing (+8.7% y-o-y after double-digit growth rates since early May, one week excluded). Perhaps the massive renewal of consumers’ home gadgets is coming to an end.
Sales in the Clothing, Footwear, and Accessories category are down 8.4% y-o-y amid customers’ migration to online from offline retailers on the back of the pandemic.