Savings vs. credits: how the Russians solved the Christmas shopping dilemma

Savings vs. credits: how the Russians solved the Christmas shopping dilemma

Moscow. January 21. The Russians were not ready to abandon the traditional new year of shopping and entertainment, despite the difficult economic situation, has shown a past vacation.

However, according to statistics of payment systems and banks surveyed by Interfax, the people chose to replace the usual attributes of a holiday on a more modest counterparts: experts note considerable growth of prices for goods in most popular categories which could not be reflected in consumer preferences of Russians.

Many of those who did not want to limit yourself before the holidays, addressed to credit institutions, recorded last December, the growth of demand for credits above the normal seasonal level.

Necromania costs

According to a study by Bank VTB 24, the total expenditure of the Russians over the new year holidays in the country has grown in comparison with last year almost immediately by 70% to 14 billion rubles (8.4 billion rubles a year earlier). Previously the dynamics of the spending was also a positive year-on-year, but volume was much lower: in January holidays 2013 it amounted to 4.3 billion rubles, in 2014 – 7.1 billion rubles.

The costs for one person during the new year holidays 2016 also rose by 11.5% to 5.8 thousand rubles (5.2 thousand rubles a year earlier).

According to the international system WebMoney Transfer and payment service PayMaster total amount of money spent by Russians for the purchase of equipment, rose in December 2015 compared to December 2014 to 41% on clothes and accessories – 33% on toys and other goods for children – 40% of the goods for the house and office – by 33%, the products from the segment “beauty, health and sports” – 28%.

At the same time, many experts have noted that the rise in the amount spent on pre-purchase funds has more to do with the growth in average checks than with a stable purchasing power of Russians.

According to payment system “Yandex.Money”, the number of orders in Russian online shops in December dropped about 40% in comparison with November, while turnover increased by 30% and buyers became less, and the average check grew from 2.2 thousand to 3.5 thousand rubles.

From the sphere of paid entertainment give up to the Russians also were not ready.

Users “Yandex.Money” were more likely to visit cinema, concerts and other entertainment events, told in a press-service payment system. “In December of 2015, the Russians spent more than double the month before, and six times more than in December last year. Average ticket lovers of theatre, music and film now stands at 2,735 thousand. This one and a half times more than in November this year, and almost twice (83%) than in December 2013,” – said the Agency interlocutor.

Clients of the payment system Qiwi before the New year started to spend more on literature, music and computer games. “The sales of books and CDs increased compared with November by 10% and average check by 20 % (compared with December 2013 – 60 %). Russians are actively buying these products in digital form. So, spending money on iTunes purchases increased compared with November by 20 %, average check increased by 12 %”, – said the representative of Qiwi.

Visiting more expensive

Despite the autumn forecasts of “Christmas pit” in the field of tourism, many Russians still preferred to refrain from traveling during this period: if the Egyptian closed the beaches, then at least you can go to relatives in another city or neighboring countries.

“For the first time in the last four years before the New year increased sales of tickets. This December via “Yandex.The cashier” users pay 15% more tickets than in November. However, average ticket decreased from 8.4 thousand to 8.2 thousand rubles”, – notes a press-service “Yandex.Money.”

According to WebMoney Transfer, cash turnover in the segment “booking of hotels and tickets” in December 2015 grew by 37% compared with December 2014. While the average check decreased by 36% to 6,657 thousand.

Clients of VTB 24, who left for abroad during the Christmas holidays, spent on average 6 times bigger than those in Russia, despite the savings. “Tourists who choose expensive areas, has drastically reduced its foreign exchange costs. Those who prefer a more budget stay, I allowed myself to spend more”, – the press service of the Bank.

Can be a loan

Experts say the festive period, the increased demand for consumer loans and credit cards.

“In December, the turnover of payments on loans rose by a third compared with November, and since last December – almost five times. The average loan payment also increased: if a year ago in December it was 3 thousand roubles, this year – 3.7 million rubles. Perhaps many people took out loans to prepare for the New year,” assume “Yandex.Money.”

“Home credit and Finance Bank” (HCF Bank) in December 2015 issued POS-loans at 11.5 billion roubles. “This is the largest amount of sales in a December for the history of the Bank. For comparison: in December 2014 the issuance were 25% less”, – said the press service of the Bank. More than half of the loans in the Bank HCF Russians took to buy consumer electronics.

The increased need for equipment reported by the first Deputy President-Chairman of the Board of Summer Bank Georgy Gorshkov. “On the eve of the New year the Summer Bank clients most often took POS-credits on mobile phones, tablets and computers (total of more than 51%), appliances (25%), and furniture and clothes (10%),” he said.

Following the rise in prices for goods and services, many experts say change the size of the loans.

“If we talk about credit cards of our Bank, we noticed changes in the behavior of customers in 2013 were approximately 25% of the approved credit limit, and in 2015, especially towards the end of the year, this indicator increased up to 40-45%”, – said the Director of retail sales UniCredit Bank Sergey Kasatkin.

The credits were also in demand, but the leverage in this category of loans was usually declined. Thus, the number of loans granted by the Bank “Russian capital” in December grew by 35% (in comparison with December of 2014), but the average loan amount decreased by 26%.

If we talk about the average price across all categories of loan products, it has grown, especially in the regions. The head of Department of credit products of the Ural Bank for reconstruction and development Svetlana Davydova notes that the average loan size at the end of December 2015 at the Bank was $ 263 thousand rubles, which is 25% higher than a year earlier. “It is apparent that increased the share of loans for daily needs,” she concluded.