Real-time retail consumption tracker for October, 18-24, 2021
The dynamics and structure of people’s last week spending in Russia have barely reacted to the announcement of an upcoming COVID-19 lockdown. SberIndex analysts claim that some segments have seen an increase in spending, albeit a minor one.
October 18–24, 2021, household spending on goods and services added 13.2% y-o-y in Russia.
Two categories – Beauty Parlors and Cafés, Bars & Restaurants – have seen an increase of 10.5% and 5%, respectively, since October 11–17. Similar changes can be observed in Moscow and Moscow Region, which stand out. The fluctuations are significant but cannot be identified as feverish demand.
Some Russians have evidently decided to use the lockdown as one more week off, which triggered higher transportation expenditures, both locally and internationally. Moreover, there is higher demand for hotels, which have seen a 6% rise since last week in Russia and a 24% increase outside the country. This last figure still has the low base effect to it.
The said fluctuations generally attest to changes in consumer behavior across certain groups only, with the general demand figure (+13.2% y-o-y vs. +13.7% a week before) showing no major shifts.
Furthermore, w-o-w spending in Food Items, a category that saw an avalanche of purchases ahead of the first lockdown, decreased.
Growth figures for home appliances and electronics have stayed one-digit for two weeks straight compared to the year 2020 (+7.9% y-o-y).
The consumer activity index has somewhat dropped since last week, which is well in line with the overall demand dynamics.
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