SberIndex: Russian spending rebounding after sales
According to SberIndex analysts, consumer spending dynamics have improved a lot between November 30 and December 6, losing 2.3% y-o-y, which can be compared to the 11.4% decline a week before.
This is partly due to the ameliorated base effect (most days of November is the time for traditional sales, which were much more active in 2019). The disappearance of this factor is especially noticeable in non-food retail (+5.2% y-o-y).
There is also a general recovery in consumer activity. The demand decline has decelerated to –19.5% in the service sector.
SberIndex analysts claim that the number of active outlets keeps climbing slowly, but steadily. In the food items segment, there’s 10% more of them compared to the pre-pandemic period while offline retailers are stagnating.
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).