Survey: Consumers save especially on fashion and restaurants

According to a survey by the German Retail Association (HDE), around a third of consumers are reducing their own consumption due to the high energy prices.

Survey: Consumers save especially on fashion and restaurants

According to a survey by the German Retail Association (HDE), around a third of consumers are reducing their own consumption due to the high energy prices. "In general, most save in the areas of fashion and gastronomy," said the association.

"However, efforts to save are also increasing when it comes to spending on leisure and cultural events as well as vacations." Eight out of ten respondents said they were affected by rising energy costs. According to the HDE, the trade research institute IFH Cologne surveyed around 1,000 consumers for the study in October.

"We notice in retail that special offers in particular are even more in demand than usual," said HDE Managing Director Stefan Genth. "Buying is more considered, spontaneous and impulse purchases are becoming less important." Around a third of those surveyed were concerned that they could no longer get by with their own money. That is six percentage points more than in a previous survey in May of this year.

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