Real-time retail consumption tracker for October 5 - 11, 2020
SberIndex analysts say that between October 5 and 11 consumer spending decline accelerated dramatically, having reached 4.8% as compared to 2019. The average figure over the past four weeks has slid to ‒1.8% y-o-y.
The consumer activity index tacked by SberIndex.ru shrunk to 73.9 from 75.9 points, which signifies a further decline in consumption variety as a response to COVID-19 risks.
Spending on non-food items dropped for the first time since early June when heavy restrictions were in place. Last week the metric lost 1.8% y-o-y.
Overall spending, food items inclusive, was also in the red (‒0.1% y-o-y) for the first time after the lockdown ended.
The demand for services is also on the wane. Between October 5 and 11, service categories lost 17.8% y-o-y (a week before the metric reached ‒14.2%).