"Romir": the consumption of Russians is gradually returning to the "pre-COVID" norm

In terms of consumer habits, Russians are gradually starting to return to life “before the coronavirus” and have become much less worried about events related to the new reality, according to a study by The Boston Consulting Group (BCG) and Romir research holding “Russian consumers - new reality"

The authors of the study analyzed the attitudes of consumers towards the situation that has developed against the backdrop of the covid-19 pandemic , and revealed their willingness to spend. In the course of the study, work was carried out with 1.5 thousand respondents throughout RUSSIA from different socio-demographic groups with an in-depth study in Moscow. Analyzed data on consumption in more than 40 product categories.

“The Russians have gone through six stages of the pandemic and are gradually starting to return to life “before the coronavirus” and have become much less worried about the events associated with the new reality. … So, fears about traveling in public transport, staying in a hotel, visiting parks and restaurants have more than halved,” the study showed.

As BCG managing DIRECTOR and partner Ivan Kotov noted, a year later, Russians began to more often believe that the worst was over, returned to work in offices, and less likely to avoid crowded places. “In April 2020, the majority of Russians believed that the economic situation would worsen, but now the share of these sentiments has halved, and people are more likely to maintain their current status and plan their expenses accordingly,” he said.

Compared to April 2020, consumer expectations regarding their spending over the next six months have improved significantly: positive dynamics are observed in 44 out of 50 categories of goods and services. The largest growth can be observed in the categories related to HEALTH (primarily drugs) and stay at home (utilities, construction and home renovation). A gradual recovery in demand is observed among consumers of all ages. At the same time, consumers aged 18-25 are most positively disposed, the most negatively are consumers of the older generation (over 55 years old), the authors noted.

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“The positive dynamics of consumer sentiment confirms that the Russians continue to recover, while doing it carefully and responsibly. In addition, people have become more attentive to their health - this is confirmed by the willingness of Russians to spend money on medicines and services, as well as continue to take precautions, wear masks and maintain social distance, ”commented the results of the study, Executive Director of Romir, Inna Karaeva.