Almost two-thirds of Germans limit spending

The skyrocketing inflation is forcing many people to curtail shopping and upcoming Christmas celebrations. According to a survey for the Federation of German Consumer Organizations (vzbv), 63 percent of consumers are already spending less money and another 20 percent expect to do so in the future. According to GfK, Germans also want to spend less money on Christmas presents this year.

Less money for groceries

According to vzbv, most respondents spend less money on food (61 percent) or clothing (56 percent) or plan to do so. 56 percent also consume less overall or plan to do so. More than a third have already made fewer flights and car trips or are planning to do so.

All in all, the majority (58 percent) of consumers should now take a closer look at the price and indicate that they will also accept compromises in terms of climate protection, the vzbv survey also found. Only 18 percent consider climate protection so important when buying products that they do not compromise when purchasing.

Changing consumer behavior for climate protection

At the same time, the majority of consumers are willing to change their own consumer behavior to protect the climate. 75 percent would like to wear their clothes longer rather than buy new, and second-hand is an option for 33 percent. 60 percent want to buy energy-efficient electronic devices, another 45 percent would have defective devices repaired instead of buying them new. For the study, 1,000 people aged 18 and older were interviewed online in early October.

Inflation should also be felt under the Christmas tree

According to the market research agency GfK, a third of Germans want to spend less money this year than last year. Only 48 percent indicate that they want to invest the same amount of money. In addition, 74 percent of those surveyed generally want to take a closer look at the price and, for example, want to buy something on offer.

Consumers want to spend an average of 299 euros per capita on gifts this year. That is eight percent less than last year (325 euros). Food is the most popular gift, such as chocolates, wine and gift baskets, as well as clothes, books, toys and money.

Christmas dinner and lighting must also be saved – only twelve percent, however, indicated that they did not want to give anything at all this year. So the value remained stable. In mid-November, 1,000 adults were interviewed for GfK.

Inflation in Germany reached a new high of 10.4 percent in October. Inflation was driven by energy and food prices.

(AFP)