More than 40% of the middle class was left without savings

Due to declining revenues, the number of Russians who have no savings, up from 36% in the fourth quarter of last year to 41% in the first quarter of this year, according to a study Sberbank CIB “Consumer index Ivanov”, which estimates consumer confidence of the Russians-the middle class.

Ivanov, focused in the study, is 2300 citizens of working age, with income and level of education classification of respondents to the middle class. On the basis of respondents ‘ answers, the researchers derive an averaged consolidated opinion on consumer moods of Russians. Sberbank CIB maintains an index with 2013.

A recent survey by research holding “ROMIR” showed that there were no savings for a rainy day now don’t have 73% of Russian families, of which 12% was spent on it last time. Another 10% of Russians are eating up the remains of my savings right now. While 61% of Russians had a “stash” for a rainy day and before the start of the crisis.

According to a recent study “Consumer index Ivanov”, the Russians continue to hunt for the low prices: the share of Ivanovs seeking to purchase products in large volumes and at a discount has increased from 50% in the second quarter of 2015 to 60% in the first quarter of this year. The share of Ivanovs, sensitive to the price level increased slightly in the first quarter to 76%. Before four quarters, it remained at 75%. The share of those who switched to cheaper products, remained at around 70%.

However, analysts of Sberbank CIB and noticed improvement. So, the average number of trading networks in which Ivanovs make purchases in the first quarter of 2016 fell after 2.5 to 2.2 in the last quarter of 2015 and 2.8 in the first quarter of 2015. This means that the middle class began to visit fewer stores different networks to make purchases. The proportion of the retail network, which Ivanovs visit most often, in their total food purchases rose to 50%. “These are all good signs that indicate that consumers are generally adapted to the new conditions, and their behavior gradually returned to normal,” — noted analysts of Sberbank CIB in the study.

Despite the fact that the Russians still have a high sensitivity to the price level, the consumer confidence index following the results of the latest survey increased slightly from minus 24% in the fourth quarter of 2015 to minus 22% in the first quarter of this year.