Real-time retail consumption tracker for March 23 – 29, 2020
Over the week between March 23 and 29, their spending slid 6.2% w-o-w. The metric added only 0.2% y-o-y, which was due to March 27 as analysts registered another spike in demand across basic consumer categories.
The specific feature of the March 23–29 period is that taxi, carsharing, parking, and toll roads expenses lost 20–50% y-o-y. Clearly, Russians are intentionally keeping their movements inside cities to a minimum, which is logical and backed by a dramatic decrease in the following categories: Entertainment (down 78.1% y-o-y): Clothes, Footwear, and Accessories (down 51%); Cafés and Restaurants (down 42.6%).
The situation with the tourism industry keeps aggravating. Hotel expenses in Russia are nearly half the 2019 figure, plane tickets are down 83% y-o-y. Travel agencies are registering a decline of over 90%.