The Russians switched to cheaper products

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www.vsyako.netPhoto: Anatoly Zhdanov / Kommersant

Falling incomes due to the economic crisis in Russia has changed the structure of purchases of food and everyday products. This is evidenced by the Nielsen study, writes “Kommersant”.

In may, buyers switched to cheaper food — the share of low price segment rose to 17.7 per cent against the annual average of 16.9 percent. The increase in demand is observed in almost half of such categories, e.g., meat, water, tea and pasta.

At the same time decreased sales in the premium price segment — from 35.8% to 34.4. Including macaroni and 37.1 to 33.7 percent, and chocolate candy — from 30.8 to 28.7 percent.

This trend confirmed in retail chains “Auchan” and “Magnet”. Both associated it with the development of its own brands, the prices of which are lower than that of similar products.Also, as analysts, 30 percent of buyers were more likely than before the crisis, to look for the goods in the shops discounts.

Senior analyst at Gazprombank Marat Ibragimov suggests that the situation with coronavirus will cause retailers to develop their brands. Amid falling revenues, the Russians are becoming less picky about the brands, so that they may develop loyalty to products that are tied to specific stores.

Earlier it was reported that the work of July 1, 2020, the final day of voting on amendments to the Constitution, will pay as the work at the weekend, that is double.

Video, photo All from Russia.

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