Real-time retail consumption tracker for August 16-22, 2021
Consumer spending growth amounted to +13.2% y-o-y between August 16 and 22. SberIndex analysts note that, despite the presidential payments for schoolchildren already having less of an impact on the increase in total spending, it has returned to the upward trend of May-July. In particular, demand remains strong in non-food retail, where the normalized growth rate was +24.2%. SberIndex data indicate that consumers are doing well and there are no significant issues with final demand. At the same time, additional spending is still concentrated in the categories that served as the source of a surge in inflation.
There is still reasonably high demand in non-food retail, with the normalized growth rate in this segment amounting to +24.2%. The sharp acceleration to the current levels occurred in early August, and the segment has not returned to its initial levels yet. This is likely a new post-pandemic seasonal manifestation, with people updating their electronics en masse before the start of the new school year. The Computers and OS segment is seeing excellent momentum (+63.4% y-o-y, close to the year’s maximum).
In addition, a significant portion of demand remains in the non-food trade, having moved there from the service sector. While not quite so noticeable compared to the previous year, this is particularly pronounced compared to pre-pandemic levels.
The high level of spending in the Car Dealerships and Auto Parts category (+22.0% y-o-y for the second week in a row) should also be noted.
A reference to SberIndex (www.sberindex.ru) is mandatory when publishing the materials.