Buyers save on vegetables, fruits and meat

The crisis is forcing Russians to save on basic products. Consumers cut spending on fruits and vegetables by 30-60%, on MEAT - up to 25%, and on bakery products - by 40%, Tinkoff analysts found out. One of the reasons is the noticeable lag in the rate of indexation of the subsistence minimum in the country from food inflation.

In the first quarter of 2021, spending by Russians on food, clothing and basic services increased by 18% year-on-year, according to an analysis of 13 million consumers. The reason is the rise in inflation. According to Rosstat, in February alone, the cost of products included in the consumer basket increased by 16% yoy. This is significantly higher than the indexation of the living wage, the size of which, according to the agency, from February 2020 to February 2021 increased by only 7.5%.

The gap between the rate of price growth and the subsistence minimum is forcing Russians to seriously save on products, reducing spending on them.

In February 2021, APPLE purchases fell by 60% year-on-year. Expenses for the purchase of carrots, oranges, cabbage and bakery products decreased by more than 40%, potatoes - by 30%, FLOUR - by 13%. The Russians also began to eat less meat: spending on beef decreased by 25%, pork - by 13%. At the same time, consumers increased spending on SUGAR by 18%.

The Ministry of Agriculture expects moderate dynamics of food prices within the limits of general inflation

“The reduction in spending on certain goods was also influenced by the fact that the pandemic taught Russians to refuse impulsive purchases,” says OneStory partner Olga Sumishevskaya. This thesis is confirmed by the data of the report: almost 50% of the polled Russians revised their consumer priorities during the crisis. A quarter of respondents have become less likely to make purchases and follow discounts, another 20% are ready to spend money only on quality goods.