Consumers seek offers and Discounts-Cut down on beauty products books and toys.
High inflation rates and soaring costs directly impact the consumer behaviors, not just of Greeks but globally.
The stable income of consumers has significantly dwindled, compelling the majority to adopt “smart shopping” strategies to save money.
A recent study by Focus Bari titled “How Inflation Affects Purchasing Power & Consumer Habits” compared Greece with 18 other countries through the YouGov network.
Findings revealed that over the past 12 months, nearly all Greek consumers engaged in at least one smart shopping action, intending to continue this approach in the future.
Brand hopping and seeking discounts dominate money-saving tactics.
Many consumers have prioritized their needs, completely halting purchases of certain goods.
Across multiple countries, there’s a high inclination towards money-saving actions, with an average of 3.5-5 different strategies for smarter shopping, varying based on retail activity and consumer ingenuity.
Specifically, the majority of consumers in Greece opt for cheaper brands and actively hunt for discounts both online and in physical stores.
Notably, approximately one in two has entirely cut back on certain purchases, while one in three admits to buying lower-quality products due to financial constraints.
Furthermore, one to two Greeks states that they have restricted their purchases awaiting the sales period to do their shopping.
Finally, according to the survey Alcohol is not considered a primary necessity for Greeks.