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Attitude of Russians towards large purchases

The Feasibility index of large purchases has sunk to the level of the beginning of 2021. The growth of the group of the most prosperous Russians with the greatest purchasing power is insignificant (116 points; in June it was 113 points). The absence of significant positive dynamics in the country as a whole indicates a limited consumer potential and possible economic concerns of the respondents. Meanwhile the pre-election subsidies can positively affect the consumer sentiment in the short term.

The absence of significant consumer plans is also noticeable in other, more specific issues related to economic behavior. The record low readiness to make purchases on credit is noticeable, it is corresponding to the period of the financial crisis 2008-2009. The lack of positive dynamics compared to the beginning of 2021 indicates that a negative attitude towards purchases on credit may become a long-term factor. The decline in interest in credit purchases in August was primarily due to a drop in interest among wealthy Russians, who are the group with the greatest interest in such purchases.

The willingness to make other major purchases, such as real estate or cars, keeps declining. The drop in readiness to buy real estate is noticeable among all consumer groups, while the readiness to purchase a vehicle is sinking only in low-income groups. Among respondents who have the opportunity to buy durable goods, the readiness to purchase cars dropped to the level of the beginning of 2021.

Index calculation methods

The method of calculating the index is presented in detail on the website of the Levada Center https://www.levada.ru/indikatory/sotsialno-ekonomicheskie-indikatory / [4]

Consumer sentiment indexes are calculated as the arithmetic mean of the difference between positive and negative responses from individual indexes.

Individual indexes:

  1. Feasibility of buying a vehicle
  2. Feasibility of buying real estate
  3. Feasibility of making purchases on credit

Based on these questions the individual index was calculated as the difference between positive and negative responses + 100 (to avoid negative index values)

This report is based on the data received during regular surveys on a representative All-Russian sample of urban and rural population with minimum 1600 participants aged 18 and older in 137 locations in 50 subjects of the Russian Federation. The survey was conducted as a personal interview in respondents’ homes.

The ANO Levada Center has been included in the registry of non-commercial organizations acting as foreign agents.

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