Watcom's Russian shopping index accelerates in August as consumer confidence returns, incomes rise

Watcom's Russian shopping index accelerates in August as consumer confidence returns, incomes rise
Watcom shopping index for August 2016
By Ben Aris in Berlin September 19, 2016

Russia’s shopping footfall index accelerated again in the 35th week of the year as consumer confidence begins to return on the back of falling inflation and gradually recovering real incomes, according to the Watcom Shopping index. 

The data, released by Moscow-based Watcom, a consultancy that measures shopping activity in malls using 3D camera technology, showed that the index in the last week before September 1 grew by 6% equal the same week’s index a year earlier, and was only 3.1% below the same week of 2014.

Watcom chairman Roman Skorokhodov said: “Footfall has recovered to its pre-crisis levels. This is the result of people adaptating to the new realities as well as the aggressive marketing campaigns by shopping centers and retailers. People’s lives are returning to normal. They are spending less, but visiting more places in search of a good deal.”

The shopping index continued to rise despite the ongoing contraction in retail turnover, the pace of which slowed again in July, was down by 5% in August from a 5.8% contraction in July year-on-year.

Consumption is still far away from becoming a driver of economic growth, but the recovery in incomes is directly visible in the shopping footfall index which has been boosted by the “back to school” seasonal shopping bump that happens at the start of every September.

 

Data

Register here to continue reading this article and 2 more for free or 12 months full access inc. Magazine and Weekly Newspaper for just $119/year.

If you have already registered, enter the information below with the same email you used previously and you will be granted immediate access.

IntelliNews Pro subscribers click here

Thank you. Please complete your registration by confirming your email address. A confirmation email has been sent to the email address you provided.

Thank you for purchasing a bne IntelliNews subscription. We look forward to serving you as one of our paid subscribers. An email confirmation will be sent to the email address you have provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

IntelliNews Pro subscribers click here

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

If you have already registered, enter the information below with the same email you used previously and you will be granted immediate access.

Thank you. Please complete your registration by confirming your email address. The confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss