https://sputnikglobe.com/20221126/germans-cutting-down-on-luxury-shopping-amid-inflation--poll-1104738747.html
Germans Cutting Down on Luxury Shopping Amid Inflation: Poll
Germans Cutting Down on Luxury Shopping Amid Inflation: Poll
Sputnik International
MOSCOW (Sputnik) - German consumers have admitted to having cut back on spending in the face of inflation, according to a new poll, with 52% saying they have... 26.11.2022, Sputnik International
2022-11-26T19:27+0000
2022-11-26T19:27+0000
2022-11-27T04:09+0000
economy
inflation
germany
https://cdn1.img.sputnikglobe.com/img/07e5/03/03/1082247847_0:0:3455:1944_1920x0_80_0_0_fa1e4ca8b80ee7b88c200aa909b79a67.jpg
The survey of 10,000 consumers conducted by market research group NielsenIQ ahead of the Christmas shopping season found that 44% of Germans had given up on luxury and pleasure shopping.A further 31% said they stopped eating out in favor of cooking their own meals, while some 30% said they were shopping less altogether. Only 10% said the price hike had no effect on their shopping habits.NielsenIQ expert Lothar Staiblin said consumers were resorting to cost-saving strategies more, hunting for discounts and comparing prices to make sure they got the best offer. Some said they were going for cheaper options like choosing margarine over butter and tap water over bottled mineral water.
germany
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2022
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
inflation, germany
Germans Cutting Down on Luxury Shopping Amid Inflation: Poll
19:27 GMT 26.11.2022 (Updated: 04:09 GMT 27.11.2022) MOSCOW (Sputnik) - German consumers have admitted to having cut back on spending in the face of inflation, according to a new poll, with 52% saying they have narrowed their shopping list down to the essentials.
The survey of 10,000 consumers conducted by market research group NielsenIQ ahead of the Christmas shopping season found that 44% of Germans had given up on luxury and pleasure shopping.
A further 31% said they stopped eating out in favor of cooking their own meals, while some 30% said they were shopping less altogether. Only 10% said the price hike had no effect on their shopping habits.
NielsenIQ expert Lothar Staiblin said consumers were resorting to cost-saving strategies more, hunting for discounts and comparing prices to make sure they got the best offer. Some said they were going for cheaper options like choosing margarine over butter and tap water over bottled mineral water.
