EY: it became clear what customers give up first during brutal price increases

By: Trademagazin Date: 2022. 09. 15. 14:21

Home delivery of products can be one of the first victims of inflation, while more and more people are opting for cheaper, own-brand goods, according to EY’s international survey of 18,000 people.

Home delivery has become a luxury for many

Eight out of ten consumers around the world are worried about their current financial situation, and even a third of the participants in EY’s international survey fear that they will soon have no money for anything other than their daily expenses. Almost half of the respondents reduce their costs by choosing cheaper ones instead of proven branded products, spending less on recreation (42%) and home delivery (35%).

“In Hungary, too, more and more people started saving in order to overcome the financial difficulties caused by soaring inflation. In this environment, companies must further strengthen the trust of their customers, which only the most prepared can do. It is extremely important for decision-makers to know what and how much people are willing to spend now, and to follow its continuous changes in the future. Having the right data and accurate analysis is inevitable, an experienced consultant can help a lot in this regard”

– stressed László Roland, head of EY’s business consulting area.