consumer behavior
Survey: Gastro visits, shopping and travel on savings list
Almost a quarter of those surveyed limit themselves when buying groceries. Photo: Carsten Koall/dpa
© dpa-infocom GmbH
As a result of the high prices, many Germans have started to spend less money. Consumer sentiment is in the basement.
High inflation is having an increasing impact on consumer behavior in Germany. Almost 40 percent of Germans have changed their spending behavior “strongly” or “rather strongly” due to the high consumer prices.
This was the result of a representative survey carried out by the opinion research institute Civey for “Business Insider”. Almost 30 percent changed their behavior “less strongly”, almost a fifth not at all.
The survey published on Saturday shows that savings are made primarily when visiting restaurants and shopping. For example, 44 percent of those surveyed stated that they would limit their spending on dining out, 39 percent forgo the purchase of clothing, and 38 percent on vacation and travel. A third of those surveyed limit their energy consumption accordingly; almost a quarter even when buying groceries. A quarter of those surveyed, on the other hand, state that they do not limit themselves in any area or do not know where they limit themselves. Multiple answers were possible when answering the question.
Consumer sentiment in Germany had reached an all-time low in April. Both the expectations of Germans with regard to the economic prospects and their incomes and their desire to buy had been dampened noticeably, as the Nuremberg-based consumer research company GfK announced at the end of April. The overall situation has slipped to its lowest level since surveys began in 1991. With the bad mood, the previous low from April 2020 is even fallen below – the peak of the first corona wave with an extensive lockdown.