Consumers with a lower income have adjusted their spending behavior more. The higher the income, the smaller the adjustment. Age or gender has no visible influence on spending behavior.
Food purchases are declining sharply
As explained above, food costs in particular have increased. It is interesting to see how many consumers are buying less food than before the current economic situation. A full 62% say they are buying less food, even though it is a daily singapore telegram data necessity. We suspect that this answer is much more likely to be given to products such as clothing, cosmetics, electronics, etc. than to food. Consumers may be foregoing a lot of variety in their meals, using more leftovers, and buying fewer fancy products or treats than before.
Adapted consumption behavior in inflation
Sustainable products suffer in times of crisis
In recent years, the trend has been increasingly towards sustainable products. If you look at the years 2018 to 2022 , more and more consumers in Germany are paying attention to whether the products they buy come from fair trade.