The Boston Consulting Group (BCG) and the Romir research holding presented an analysis of consumer sentiment aimed at analyzing consumer attitudes towards the situation amid the COVID-19 pandemic and identifying Russians’ willingness to spend.
The study showed that, compared to the beginning of the pandemic, Muscovites are positive about their plans to increase consumption. Thus, for food products, positive dynamics is observed in all categories, the percentage difference between positive and negative responses in different categories ranged from +5 to +26 per cent: fresh food +5 per cent, basic foods +26 per cent, frozen and canned food +5 per cent. Muscovites also plan to increase consumption of durable goods: furniture (+5 per cent), mobile devices (+1 per cent), and electronics (+5 per cent).
However, Moscow residents plan to cut their spendings on travel (-25 per cent), concerts and spas (-26 per cent). Also, in the future, citizens plan to reduce their spendings in hypermarkets (19 per cent), shops in malls (39 per cent), and mono-brand stores (44 per cent). The main reason for this is trying to avoid public places where there are a lot of people (47 per cent). It is specified that the level of trust in public transport and taxis in Moscow is growing sharply compared to April 2020. The increase in positive responses was +34 per cent for public transport, +22 per cent for taxis, and +11 per cent for car-sharing.