PJSC Sberbank : Russians buying more for New Year – holiday set expenses near RUB 5,000

Platform OFD, a Sber ecosystem company and Russia's largest fiscal data operator, has analyzed Russians' expenses on New Year and compared them to those made last year.

According to Platform OFD's Check Index analytical unit, the general sales of New Year-related products in November 2021 saw a rise of 80-90% y-o-y. The price of a "New Year set" (a conventional minimum set of products for a New Year celebration) is up 19% reaching RUB 4,935. It includes an artificial pine tree and balls for it, a tree-topper, holiday lights, tinsel, sparkling wine, and tangerines.

Here is how the average prices on the New Year set have changed y-o-y:

An artificial pine tree. Average price: RUB 3,196, up 23%. Sales (items sold) up 110%.

Holiday lights. Average price: RUB 485, up 4%. Sales (items sold) up 115%.

A set of ornaments. Average price: RUB 392, up 33%. Sales (items sold) up 66%.

A tree-topper. Average price: RUB 178, up 19%. Sales (items sold) up 112%.

Tinsel. Average price: RUB 106, up 7%. Sales (items sold) up 151%.

A bottle of sparkling wine. Average price: RUB 465, up 8%. Sales (items sold) up 6%.

Tangerines (sold by weight). Average price: RUB 113, up 7%. Sales (items sold) up 92%.

Alexander Belokopytov, vice president and head of the Corporate Ecosystem Directorate, Sberbank:

"A surge in sales has been registered for New Year-related products in Russia this year. We believe this is because both sellers and buyers have adapted to the new commerce paradigm, with a significant part of sales going online. Online purchases of goods from the New Year set have tripled.

"Furthermore, the higher sales are also due to the low base effect of November 2020. Last year, due to COVID restrictions and the lack of snow, consumers were slow with their New Year preparations and purchased less. This year the weather is colder, there is snow in many parts of Russia, and people have the New Year spirit, which also affected sales."