Nielseniq analysts found out that the number of financially affected by the consequences of COVID-19 was doubled in Russia - 69% are forced to monitor costs.
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According to the new global study of Nielseniq, the number of Russian consumers, financially affected by the COVID-19 pandemic effect, has doubled from September to January 2021, reaching 53% (+26 pp). At the same time, even among 47% of consumers who have not encountered a decrease in income caused by COVID-19, 16% began to carefully monitor how they spend money. Thus, seven out of ten (69%) consumers in Russia were forced to monitor costs and save.
In the course of the study, it turned out that four out of ten (38%) of consumers surveyed in Russia do not feel confident in their financial position if the negative impact of the pandemic will continue in the next 3-6 months - this is the highest figure among European countries in which the study took place.
"The COVID-19 Pandemic influenced the purchasing power of various groups of consumers, in the near future we will continue to observe the transformation of the demand and polarization of purchasing costs. The FMCG market was among the few list of industries that managed to show growth in 2020. Despite the slowdown in the dynamics compared with 2019, sales of everyday demand goods rose in Russia by 3% in monetary terms. However, given the low purchasing activity and switching to the saving mode of a large group of consumers in 2021, consumption in physical terms will continue to stagnate, and the growth of the market in value terms will stimulate only a low inflation rate, "says Konstantin Loktev, director of work with Nielseniq retailers in Russia.
In order to save consumers, consumers resort to new tactics: 62% of respondents admitted that they will buy any product with a discount regardless of the brand, 37% switched on goods under private brands of retailers, 20% choose the cheapest product from those presented in category. But at the same time, consumers in Russia were among the most loyal to the selected brands: 61% will try a new brand only subject to the regular price of a beloved, and 70% prefer to acquire a favorite product even despite the need to control the budget - this is the highest rate among all countries who participated in the study.
In the context of developing trends among consumers, a request for a wider range of goods at affordable prices is also intensified (92% of respondents stated) and the opportunity to buy goods directly from the manufacturer (89%). At the same time, 63% admitted that they were ready to pay a higher price for high quality goods.
"In the behavior of buyers, two lines are traced: on the one hand, the commitment to their habits and brands, on the other, is the need to save. In this duality, the market can catch an important signal for themselves: today the buyer is inclined or sometimes forced to try new products, new brands, new stores. In any market segment, the business must be used primarily with understanding of his buyer and its new needs, "says Konstantin Locks.
Previously, Nielsen reported that the proportion of promo returned to dock values.
In addition, the share of sales at discount decreased for the first time in three years.
Retail.ru.