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Executive Summary
AI-generatedAccording to a representative survey conducted by Kantar for the price comparison portal Idealo, many people in Germany are cutting back on spending, particularly on clothing and dining out. The study surveyed over 2,000 individuals aged 18 to 64, revealing that consumers are most reluctant to spend money on apparel and accessories (52%).
Key Insights
- The survey found that the highest areas of spending cuts among German consumers are clothing/accessories and dining out.
- Among consumer goods, people are most likely to save on clothing and accessories (52%), followed by hobby/leisure items (42%) and electronics (41%).
- For leisure activities, gastronomy (52%) is the hardest hit, alongside cinema (46%) and concerts/festivals (45%).
- A significant portion of consumers are saving money for retirement or building financial reserves.
- Consumers are adopting various cost-saving habits, such as comparing prices more often (62%) and favoring private labels (44%).
Topic context
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