According to TBC Research, growth in resident non-cash spending on nongrocery & pharmacy items remained stable at 28% YoY. Non-cash spending on grocery and pharmacy declined marginally to 41% YoY.
After skyrocketing in the beginning of the month, the non-cash transactions in apparel continue to stabilize at +34% YoY in the third week of June as the pent-up demand wears off.
Change in spending on entertainment stood at -69% YoY, showing slight improvement for the last several weeks.
Non-cash spending on fitness still down due to COVID-19 related regulations.
The growth in non-cash spending on construction materials stood at 58% YoY this week, after trending down for past five weeks, standing at 70%, 62%, 63%, 64% and 54% YoY.
The week was marginally stronger for non-cash spending in furniture and appliances, standing at 27% YoY in week of 16-22th June, compared to 21% last week. Growth in electronics slightly up since last week, currently at 23% YoY.
Non-cash spending on personal care maintains a positive growth rate, while spending on other consumer goods slightly declined. Spending on car repair services has been exhibiting a strong growth for past six weeks, standing at 43%, 40%, 54%, 45%, 35% and 38% YoY, respectively.
Non-cash spending on fuel at -15% YoY in the third week of June, which might be partly attributable to lower fuel prices.
Growth of non-cash spending on doctor visits has displayed a positive growth during the last five weeks, standing at +45% YoY in the week of 16-22nd June.
The growth in non-cash spending in hotels has improved to -85% YoY this week, up from -88% YoY last week, and -97% YoY the week before, due to domestic tourism.
Further improvements are visible in restaurant spending as restrictions have eased, with the growth standing at -70%, -62%, -47%, -40% and - 38% YoY for past 5 weeks.
