August zeroed out. SberIndex.ru on spending between Aug 17 and 23 in Russia
Over three weeks of August 2020, spending in Russia saw no changes y-o-y, analysts from SberIndex.ru say. This was due to consumer spending having added 1.9% between August 17 and 23 to secure the 0% change since the beginning of August, as compared to the same stretch in 2019.
Consumer activity index reached 75.4 out of 100 points, having added 1.3% over the week. The number of operating outlets is up 1.3% from the weekly average in February. Thus, SberIndex analysts say, all real-time indicators signify consumer demand is improving.
Last week’s spending grew mainly due to non-food items (+12.4% y-o-y). Airline tickets lost 32.8% y-o-y from being down 94% y-o-y during the climax of the pandemic. The demand is growing in the Entertainment category, which rebounded by 73.0% compared to 2019, up from 49.8% in early August. At the same time, major categories like Cafés, Bars, Restaurants (78.2% of 2019 figures) and Beauty Parlors, Massage, SPA (78.3%) have not been registering major progress for weeks.
Department Stores, which includes spending across most online stores and e-coms, is the fastest growing category during the pandemic. Albeit it’s performing better compared to 2019 (spending 8.6% higher y-o-y), the demand here is cooling down. A one-week upsurge might be more of a statistical noise, but SberIndex analysts keep an eye on its evolution, and as long as things are looking better for offline retailers as well, this might be a sign of consumer habits getting back to normal. More details are available in our tracker.
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 SberData lab ones.