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Physical Consumption In Russia Reduced
June 12, 2016 00:49


Russians are more likely to choose food of lower quality, save on everyday comfort and road safety. This is written by “Kommersant” on Monday, June 6 with a reference to the research by the Analytical Credit Rating Agency (ACRA).

A record decline in real wages and income in 2015 has reduced physical consumption of non-food products by 20 percent, and of food - by 4.2 percent. It was compensated by changes in preferences of citizens in favor of cheaper goods, despite the fact that the popularity of durable goods of economy class started to grow back in 2011, and of cheaper food - in 2013, as the research said. Although calories consumption per capita and the amount of expenditures on food have remained at the same level, vegetables, fruits, fish, seafood and alcohol in everyday diet gave way to bread, potatoes and dairy products “Further shift in consumer preference towards cereals, flour, butter, seasonal vegetables and sugar is possible in future” – the research of ACRA stated. In addition, people now use durable goods for a longer period of time.

Average area of new apartments has also decreased - this figure fell by 19 percent from 2009 to 2015. At the same time indicators of per capita housing and public satisfaction with housing conditions are still growing: the average area of an old apartment is still 25 percent less than the area of a new one; and the improvement of the housing stock is ahead of population growth.

As analysts believe, in future Russians will save more and use durable goods and investment consumption goods for a longer period of time. At the same time ACRA predicts that real incomes of population will be shrinking for two and a half years. In this case the consumption sector will face long-standing stagnation, according to the report; then even in 2020 retail turnover will be 10 percent lower than in 2014. In mid-May the “Romir” holding reported that 90 percent of Russians had switched to saving mode. 43 people out of 100 save on food. Every fifth respondent reduced expenditures on entertainment and abandoned plans for expensive travels. 23 percent of respondents began to eat fewer delicacies.


Author: Anna Dorozhkina


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