10 November 2020
Real-time retail consumption tracker for November 2 - 8, 2020
The consumer spending decline observed in late October was neither an outlier nor an anomaly, says a new SberIndex tracker. No major improvements in spending throughout Russia were spotted between November 2 and 8. The metric lost 8.3% y-o-y after sliding by 10.8% y-o-y a week before that. Over the last four weeks, the demand shrunk by 6% y-o-y.
The general change has remained weak since late May. Spending keeps declining across non-food items (–3.4% y-o-y) and the service sector (–28.1% y-o-y).
The consumer activity index available on SberIndex.ru lost 3.5 points over the week to reach 67.8 points, which can be compared to a sluggish Sunday when many people stay at home or minimize purchases.
There’s a signature increase in spending on food items (3.1% y-o-y). The demand for medications and healthcare products stays high (+28.4% y-o-y).
- Consumers
- Expenses