👉In the first half of June, 2 times less electronics were sold in Moscow shopping centers (link)
👉The number of purchases decreased by 9% – people buy cheaper goods
👉 Store traffic fell by 26% y/y
👉The reasons are a decrease in the purchasing power of the population, a large purchase in March and the departure of a number of brands from Russia.
👉 In household appliances stores in April-May, sales dipped by 35% y/y, in June – by 20-25%
👉Smartphone sales in May-June fell by 30% y/y
👉M.Video admits that sales in April-June are lower in all sales channels
Thus, we can write another trend: a sharp decline in demand for electronics in stores.
The article by Kommersant refers to offline stores, so this problem probably mainly concerns M.Video shares. To a lesser extent, OZON, because it is an online store, but I would not discount the general trend of decreasing purchasing power.
In our rating of stocks, M.Video has the lowest rating for investment attractiveness precisely because of expectations of a decrease in traffic and demand. OZON shares are rated 3 out of 5, but I, too, fear that the downtrend in demand could slow down OZON’s sales this year.
@Mozgovikresearch
