Real-time retail consumption tracker for February 1-7, 2021
SberIndex analysts say household demand has stabilized at the highest level since the pandemic onset. Between February 1 and 7 consumer spending in Russia added 2.6%.
The spending structure stabilized, with growth being driven by non-food retail (+9.5% YoY), which welcomed the demand from the service sector (–15.8% YoY). Key offline retail categories see double-digit growth rates again: Clothing, Footwear, and Accessories soared by 16.1% YoY and Home Appliances & Electronics increased by 10.6% YoY.
SberIndex analysts spotted higher demand in online retail, too. Spending in Department Stores, including e-coms and online stores, is up 17.7%, which can be compared to the first wave of the coronavirus.
Contractual Services (+69.7% YoY), Sports (+27.1% YoY), and Computers & Software (+25.8% YoY) were the fastest-growing spending categories in Russia during the last week, while the biggest decline is still seen across duty-free shops (–86.1% YoY).
The total number of operating merchant locations is climbing steadily now being 4.6% above last February.