Real-time retail consumption tracker for June 15 – 21, 2020
Between June 15 and 21, the services sector became the driver behind spending improvements for the first time since the beginning of the “coronacrisis.” Additional expenses here amounted to at least RUB 30 bln, and the decline in this segment is now one third of what was seen in 2019 (–30.2% y-o-y). Back in April, the gap was much larger and reached –58% compared to last year.
The improvement in the last week is mainly caused by the removal of restrictions in Moscow. Demand has returned to cafes and restaurants, and the beauty industry keeps recovering too. In the Moscow metropolitan area, spending in the Beauty Parlors, Massage, SPA category more than doubled compared to the previous week.
The leader with the highest recovery rate both in Russia in general and in Moscow was the Car Rental segment, where spending also doubled w-o-w, which is associated with the return of car sharing. As a result, the fall slid to 57% against 80% seven days earlier compared to 2019.