Purchasing power crisis: how European consumers adapt their shopping behaviour – RetailDetail EU

Rising prices, political instability and wars are weighing heavily on consumer confidence: as many as 93% of European consumers have adjusted their shopping behaviour. Six austerity measures set the tone.

Spending habits adjusted

According to 40% of Britons, their economic situation is worse now than a year ago. Among Italians, the figure is 30%. Great is the contrast with consumers in China and India, where more than half rate their economic situation better than the previous year. What factors are responsible for this negative sentiment in Europe? More than one in three (37%) are worried about rising food prices, for one in four (25%) rising energy prices are a cause for concern, and in addition, more Europeans are worried about wars, political instability and the development of the party landscape in Europe, research by NielsenIQ shows.

This is not without consequences. As many as 93 per cent of consumers have changed their shopping habits and adjusted their spending patterns. Which adaptation strategies consumers adopt varies greatly from country to country. However, on average, each consumer follows four of these saving measures: