The report “Consumer Moods of Poles in 2021” shows that almost 41 percent. Poles intend to reduce spending on current purchases in the third quarter of this year. Some respondents (29 percent) will reduce their expenses by 5-10 percent, every fifth by 10-15 percent, the cuts of 15-20 percent were indicated by 22.6 percent of the respondents. Experts explain that consumers are still very cautious about spending money, especially as the fourth wave of the pandemic is approaching.
From the cyclical report entitled The “Consumer Moods of Poles in 2021”, carried out by UCE Research and the AdRetail Group, shows that currently 40.9 percent. Poles intend to reduce spending on current purchases in the third quarter. In Q2, such a declaration was made by 40 percent. of those asked, and in the period from January to March this year. the result was 44.8 percent.
Poles reduce their expenses
In turn, 45.5 percent. of respondents do not intend to limit their spending on current purchases (in the second quarter it was 38.3%, in the first quarter – 43.7% of indications). However, 8.5 percent. respondents have no opinion on this issue. (in Q2, 16% were undecided, and at the beginning of the year – 8.3%) – it was reported.
According to the co-author of the study and the managing director of the AdRetail Group, Karol Kamiński, consumers are still very cautious about spending money, especially as the fourth wave of the pandemic is approaching.
According to the report, the most frequently indicated reason for the limitations of Q3 are rising prices – 65.8%. indications (in Q2, this reason was indicated by 32.1% of respondents, and at the beginning of the year – 38.7%). The second reason for Poles to limit their spending is the fear that the economic situation in the country will worsen (for comparison, this was noted in Q2 by 25% of respondents, in Q1 by 17.5%).
According to Krzysztof Zych, the chief analyst of UCE Research, the third reason for spending cuts is the lack of saved savings. This answer was chosen by 26.9% (a quarter earlier – 13.6%, from January to March this year it was 19.3%). “There is further fear of losing a job, indicated by 18.2% of respondents, compared to 11.9% in Q2, and 10% in Q1.” – added.
Rising prices discourage shopping
The report also shows that people aged 56-80, with secondary or higher education, are most worried about rising prices. This mainly applies to Poles from the province. Opole, Świętokrzyskie and Kujawsko-Pomorskie voivodeships. They are mainly compatriots with incomes above PLN 9,000. PLN or from 1 to nearly 3 thousand. PLN net per month.
As Kamiński pointed out, the dynamics of price growth has been the highest in a decade, which cannot be overlooked on store shelves. – This results in fear and there is a fear that it will be even more expensive – he assessed.
The results of the report also indicate that Poles most often intend to reduce expenses by 5-10 percent, which was declared by 29 percent. respondents focused on saving. Cuts of 10-15 percent. was indicated by 20.5 percent. of those asked, while 15-20 percent. less is declared by 22.6 percent.
“For comparison, in Q2 this year, the greatest number of responses (26.2%) concerned savings of 15-20%. In the first three months of this year, the answer was 10-15% most often (29%). ” – gave Zych. He added that the broadest scope of expenditure limitation in the study (5-10%) was indicated by people aged 56-80 from the province. Opole and the province. Warmian-Masurian Voivodeship with incomes in the range of PLN 3,000-6,999 net per month.
What expenses do Poles want to limit?
As he noted, the most frequently mentioned cutting range (5-10%) is to a large extent the value that applies to increases on an ongoing basis.
He pointed out that analyzing the results of the study in more detail, it can be seen that Poles mainly plan to reduce spending on art. clothing – 50.7 percent (in the previous quarter – 14.1 percent, and at the beginning of this year – 38.9 percent). “Next in the ranking are alcoholic beverages – 34.2 percent (12.6 percent in the second quarter, 10.6 percent in the first quarter). 31.6 percent. For comparison, in Q2, cuts on household appliances and audio / video devices were indicated by 6.9% of those questioned, in Q1 2021 already by 23.5%. ” – he gave.
In the opinion of Kamiński, the reduction of expenses on clothing may be related to the fact that many people still work remotely and therefore do not see the need to buy new clothes. On the other hand, alcohol is not a basic necessity, so in more difficult times it is easier to limit this type of shopping. On the other hand, Poles were actively buying RTV and household appliances at the beginning of the pandemic, so the market was certainly oversaturated “- explained the expert at the AdRetail Group.
The study for the report “Consumer Moods of Poles 2021” was conducted in the first half of August this year. using the CAWI method by UCE Research and SYNO Poland for the AdRetail Group among 1037 adult Poles. The sample was representative in terms of gender, age, town size, education and region.
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