Current approaches to overcoming economic difficulties in Russia
The results of Romir's regular “M-Pulse” study showed that 39% of Russians choose the strategy of abandoning expensive purchases and durable goods (a decrease of 5 percentage points compared to May 2023); the same number are ready to cut costs on recreation and entertainment.
36% of respondents admitted that they redistribute the budget in favor of buying food and essentials. At the same time, 16% are cutting costs even in this category. 30% of respondents noted the search for additional sources of income as a way to overcome economic difficulties. 21% named this as a way to refuse expensive services for treatment and education, 9% said to sell property and real estate that they do not use.18% of Russians see opportunities to overcome economic difficulties in growing their own vegetables and fruits in the country, as well as in gathering.
9% of respondents did not name any of the proposed options, since economic problems did not affect them*.
“Against the backdrop of the desire to save money, we are observing some changes in consumer behavior. We see that the first places in the ranking of ways to overcome economic difficulties are occupied by standard, socially understandable answers. Therefore, it is important to monitor changes in each of the indicators. A significant proportion of consumers now focuses on basic purchasing basket and on finding the most profitable solutions when filling it. In general, we see a high level of adaptability and the manifestation of social optimism in relation to overcoming economic difficulties,” comments Ksenia Payzanskaya, Romir’s elder director for customer relations.
As part of Romir's regular M-Pulse survey, respondents were asked about the actions they are taking or planning to take to overcome economic difficulties. More than 2,800 Russians took part in the June survey.
*The total number exceeds 100% because survey participants may have provided multiple answers.
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