SberIndex: Russians migrating to online from offline stores amid pandemic

Nov 25, 2020

SberIndex analysts are inclined to believe that the upcoming Black Friday scheduled for November 27 will be a rather weak one because of the suppressed dynamics of consumer spending between November 16 and 22. The metric slid 9.0% y-o-y after losing 7.7% y-o-y a week before.

The consumer activity index tracked by SberIndex.ru is below 70 points (69 p). Consumers are hibernating while the demand is stable and low.

Analysts observed some deterioration in the non-food retail sector last week (–4.8% y-o-y). The dynamics in the Home Appliances and Electronics category are normalizing (+8.7% y-o-y after double-digit growth rates since early May, one week excluded). Perhaps the massive renewal of consumers’ home gadgets is coming to an end.

Sales in the Clothing, Footwear, and Accessories category are down 8.4% y-o-y amid customers’ migration to online from offline retailers on the back of the pandemic.

When publishing the materials, a reference to SberIndex (www.sberindex.ru) is mandatory.

SberIndex.ru is an analytical website by Sberbank that illustrates how life in Russia has changed during the COVID-19 pandemic. Today, you can find three key indexes on the website, all of them based on anonymized data. These are an incidence model, the consumer activity index, and consumer activity changes. The all-new Business section features the evolution of gross payroll and change in small business activity. The website also has other studies, including all SberIndex lab ones (former SberData).