Snesar: Pandemic influenced Russians’ consumer preferences

The coronavirus pandemic influenced Russians’ consumer preferences very much, said Dmitry Snesar, the Head of the Department for working with clients in market industries and senior Vice President of VTB at the VTB Capital “RUSSIA CALLING!” forum.

“Now we can see the urban population starting to leave the megacities. It's too early to say how much this will affect employees’ salary, but we can already say that our consumer tastes and preferences have changed a lot, as well as the way we make purchases”, he noted.

Earlier, the VTB press service reported that during the self-isolation period in April, the peak of the pandemic, Russians cut their spending by 34%, compared to April 2019. According to the bank, in April offline shopping, which suffered the most, slumped by 35% in annualized terms. Online shopping fell by 30%, however their share of total transactions increased by 11 percentage points - to 34%.