Real-time retail consumption tracker for January 11-17, 2021
SberIndex analysts say that between January 11 and 17 consumer spending in Russia practically remained flat since 2020, having added 0.1% y-o-y.
Retail products saw moderate growth, with groceries adding 2.6% y-o-y and non-food items jumping by 3.6% y-o-y. Consumers probably did their shopping a week before that, mainly. The weather could have been one of the reasons for that.
In the service sector, spending was close to the post-crisis highs, with the decline decelerating to –14.4% y-o-y. Before the second wave of the pandemic, the best result was registered in September (–13.0% y-o-y).
According to SberIndex analysts, consumers have not revived after the holidays yet, and the consumer activity index remains frozen at 61 points.