Consumer habits adapt to rising prices

Woman in a furniture store.

(01.06.2022) Rising prices due to the global economic situation are putting a strain on the Swiss budget. A study by the accounting and consulting firm PwC reveals that inflation is a source of concern for the majority of the country's consumers (59%).

Close to two out of five Swiss (39%) are likely to reduce their non-food spending if the inflationary trend continues. For 44% of those surveyed, travel and food expenses would impact the amount spent on other consumer goods.

Inflation already impacts 43% of the respondents. The clothing and shoe trade is particularly affected: 23% of those surveyed use price comparison services. A similar number of consumers are switching to inexpensive stationary products. Nearly a quarter of consumers (24%) are focusing more on special offers and discounted products, while 17% are shifting to a more quality-oriented consumption pattern

Some sectors may be even more affected: a third of respondents say they are deferring purchases of watches and jewelry, as well as furniture and appliances. Furthermore, over a fifth of consumers buying health and beauty products are switching to less expensive items.

A significant proportion of consumers thus intend to modify, to a greater or lesser extent, their consumption habits to adapt to increased living costs. It should be noted that only 8% of respondents say they use credit and 5% use instalment payments. 


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Last modification 01.06.2022

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