Sberbank CIB Ivanov Consumer Confidence Tracker

February 15, 2013


Bimonthly Survey of the Spending Habits and Opinions of Middle Class Russian Consumers

While 2012 was challenging in terms of personal income and concerns over the direction of the Russian economy, most consumers are now more optimistic and expect an improvement in their personal situation in 2013.

But, while optimistic, the majority is still not yet confident enough to make major purchases. Most people are holding back from big-ticket purchases while waiting for evidence of better economic growth.

Within the big-ticket category, a surprising 42% of people still plan to change their car within the next two years.

A majority of people own their existing home (only 11% rent) but approximately half plan to upgrade to a newer home in the near term.

Customers are increasingly price sensitive: 37% of respondents consider price attractiveness as a key factor in whether, and where, they buy.

In selecting a supermarket, price and the quality of goods are significantly greater considerations for food shoppers than interior layout or service.

Inflation and unemployment are key areas of concern for most of the population, although there is healthy optimism: 44% say they expect an improvement in their personal wealth in 2013 compared with 2012.

Most people see the high level of corruption as one of the main reasons holding back economic development in Russia. They see the fight against corruption as one of the government’s key priorities.

The number of people who say they would be prepared to emigrate as they consider economic and lifestyle prospects to be better elsewhere is still extremely high at 38%.

Prepared on the basis of the “Sberbank CIB Ivanov Consumer Confidence Tracker” by Sberbank Investment Research.