Real-time retail consumption tracker for July June 1 - 7, 2020
Consumer demand keeps rebounding. Between June 1 and 7, 2020, consumer spending soared 9.8% w-o-w. The y-o-y decline decelerated to 10.8%. The consumer activity index on Sberbank’s analytical website SberIndex.ru, which stands for the variety of categories of products and services in consumer baskets, increased from 63.6 to 68.1 points in the same stretch.
Following the latest round of relaxation measures, sales of non-food items practically reverted to the level registered in 2019, with the week-on-week change of a paltry ‑1.3% y-o-y. Total spending on products including groceries is 3.2% up y-o-y. Services also keep rebounding, although at a much slower pace. The y-o-y decline here is still 37.6% compared to the same stretch in 2019.
After non-food stores had reopened their doors the demand for their products skyrocketed. An upsurge was registered in the Clothing, Footwear, and Accessories category, which added 50% w-o-w nationwide and nearly 100% in Moscow and its suburbs, bringing its y-o-y decline down to ‑21% as compared to ‑64% y-o-y a week before that. Three more categories started rebounding fast – Building and Home Improvement Goods, Furniture and Interior Decorations, and Car Dealerships – to reach their 2019 revenues, which means they had fully rebounded as of the latest week analyzed.