Original title: “Consumption downgrade” of high-inflation Germans 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 Nov. 26 that Nielsen IQ, a market research and data analysis company, surveyed more than 10,000 Germans and found that 52 percent of respondents said they only buy “what they really need.” “; He stated that he will no longer buy “fun or luxury”; 31% try to eat less out and choose to eat at home.
About 30% of respondents said they “buy less” due to persistently high inflation.
The survey also showed that as prices have risen, German consumers have been trying to save money by purchasing cheaper alternatives to certain products, such as margarine instead of natural butter and tap water instead of mineral water.
“Consumers use many other ways to save money as well. They do more price comparisons, pay more attention to specials and buy cheaper items,” said Lothar Stebling, market research expert at Nielsen IQ.
Inflation levels in Germany have remained elevated 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.
