Consumer Confidence in Russia: 2024 Ends on an Optimistic Note

ROMIR presents an analysis of the consumer confidence index in Russia for 2024. Throughout the year, there was a predominantly positive trend, reflecting relatively optimistic assessments by Russians of the current economic situation and its development prospects. A slight decrease in the index was recorded in the third quarter (+4), but in the fourth quarter the value recovered to +6. A more detailed analysis by month showed minimum values ​​in September, after which there was a steady increase to +8 in October. In December, the index was +3, which is probably due to traditional pre-holiday mood swings. It is important to note the significant differentiation of the consumer confidence index depending on socio-demographic and regional factors. In the east of the country, in particular in the Far East and the Urals, the highest index values ​​were recorded in the fourth quarter. At the same time, the North-West region showed the only negative value. A similar differentiation is also observed depending on the size of the settlement: the population of small towns (stratum D) demonstrated positive index values ​​throughout the fourth quarter, while negative values ​​were observed in large cities (strata B and C).
Another important indicator is the level of stress among the population. In the fourth quarter of 2024, 37% of Russians experienced stress, which is significantly lower than the peak values ​​​​of 2022 and 2023. This indicates stabilization of the situation and a return to the indicators typical for the Russian population. At the same time, as before, walks and communication with loved ones remain the most popular ways to deal with stress. They are followed by satisfying gastronomic needs, and in December there was a significant increase in indicators in this category, which indicates the use of food products as a way of self-reward in the run-up to the New Year holidays.
"These survey data demonstrate a complex, but generally positive picture of consumer sentiment in Russia. Despite regional and socio-demographic differences, optimistic expectations prevail. The growing interest in food products as a way to relieve stress in anticipation of the holidays is of particular interest to manufacturers of consumer goods. We recommend that our clients take these nuances into account when planning their marketing strategies, focusing on audience segmentation and current consumer trends reflected in our research," comments Anastasia Sidorina, ROMIR Client Relations Director.