Research conducted ΙΕΛΚΑ (Research Institute for Consumer Goods Retailing), has revealed a significant change in consumer habits recently, which is largely due to the increase in prices of goods and services.
The survey was conducted with a sample of 1,000 consumers from November 9 to November 11, 2022 and concerned, among other things, the expected the impact of price increases, the war in Ukraine and the COVID-19 pandemic on consumer habits in Greece.
According to the study, it is clear consumer tendency to save money in terms of acquiring basic goods and services and, secondarily, managing cash. According to ΙΕΛΚΑ, 80% of the population say they have canceled spending on entertainment such as eating out, vacations, travel, etc. 66% say they have reduced their electricity consumption, and 62% of the population say they have postponed work for maintenance and repair, for example, of a house or a car.
55% say they have reduced their food and grocery purchases overall. 25% say they have used money from their savings to meet their needs. 20% delayed paying bills or stopped paying their obligations.
15% say they have increased their working hours or found a second job to increase their income, while 10% increased the use of credit cards to pay for purchases. And only 9% of the population say they take absolutely no action and don’t care about inflation.
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