CPG research: Even those who didn’t last year are saving today

By: Trademagazin Date: 2023. 05. 03. 10:58

Even Poles, Czechs and Slovaks spend more boldly than Hungarians – it was revealed from Publicis Groupe’s second annual regional survey*. The research examined one of the most frequently purchased consumer categories – including sweets, soft drinks, medicine, pet food and coffee – and how people’s consumption habits change as a result of the difficult economic environment. The survey covering 4 countries, including Hungary, showed that in all consumption categories Hungarians held back their spending the most in the last quarter.

The Hungarians’ sensitive reaction to the pressing economic effects is the most striking in the region: 41 percent of them reported that they had reduced their costs. This is almost double the results of a year ago (22%). For Czechs, this year’s figure is 22% compared to last year’s 15%, for Poles 28% (20% last year), and for Slovaks all 25% (21% last year). Thus, it can be said that the others – especially the Czechs – feel less exposed to the inflationary effect.

The answers show – and this proved to be true for Hungary and the other countries as well – that people feel the need for more restrained spending less and less because of the fear of a protracted war, but more because of the pressure exerted by inflation. The data show that 58 percent of Hungarians named inflation as a direct cause and only 15 percent the war.