Original title: High inflation Germans “consumption downgrade” is becoming the norm
A new survey shows that as German prices continue to rise sharply, Germans are changing their consumption habits in many ways, and “consumption downgrade” has gradually become the norm.
German media reported on November 26 that Nielsen IQ, a market research and data analysis company, surveyed more than 10,000 Germans and found that 52% of the respondents said they only buy “what they really need”; Said they will no longer buy “fun or luxury” items; 31% try to eat out less and choose to eat at home.
About 30 percent of those surveyed said they were “shopping less” amid persistently high inflation.
The survey also showed that as prices soared, German consumers tried to save money by buying cheaper alternatives to certain goods, such as margarine instead of natural butter and tap water instead of mineral water.
“Consumers also use many other ways to save money. They do more price comparisons, pay more attention to specials, and buy cheaper items,” said Lothar Stebling, a market research expert at Nielsen IQ.
Inflation levels in Germany have remained high recently. According to data released by the Federal Statistical Office on the 11th, the inflation rate in Germany was 10.4% in October, the highest value since 1990 for two consecutive months.