COVID-19 has forced Russians to cut the consumption of goods and services by 90 percent, results of a survey showed on Thursday.
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Boston Consulting Group and Romir, an exclusive representative of Gallup International Association in Russia, polled 1,200 respondents, who answered questions on over 40 goods and services.
“Cutting spending, building up stocks and increasing expenses on home leisure are a natural reaction to the unfolding economic crisis,” Romir President Andrei Milyokhin commented on the results.
Russians are determined to reduce spending for at least the next six months, with 20 per cent planning to save on food, and 37 per cent on clothes and shoes, the survey showed.
A total of 51 per cent of the respondents in the next six months will cut spending on leisure, 25 per cent on jewelry, 29 percent on perfumes, 34 per cent on furniture and 37 per cent on electronics and household appliances.
On average, 47 per cent plan to spend less on public transport, 49 per cent on taxis, and 56 per cent on car sharing.