Russians Began to Spend More on Entertainment and Holidays
OREANDA-NEWS The number of Russians forced to save decreased from 69% to 67%. According to the data for the second quarter of 2019, 76% of the respondents stated that they have available funds.
20% of Russians are ready to spend on entertainment outside the home, which is 5% more than at the beginning of the year, 37% will increase the cost of buying clothes (4% more than in the first quarter), 31% will spend the money they have on holidays (for 1% more than the first quarter). Another 28% plan to save money.
Analysts at The Conference Board and Nielsen note that the consumer confidence index rose for the first time in a year. Compared to the first quarter of 2019, it increased by seven points, but turned out to be one point lower than in the second quarter of 2018.
Consumer confidence in the second quarter is associated with a stable ruble exchange rate and lower inflation expectations, says Marina Volkova, director of analytics and consulting at Nielsen Russia.
According to the study, 33% of Russians are waiting for "good" or "excellent" financial prospects in the next six months, 20% consider time to be suitable for spending money, RBC writes.