In our fourth year of what – without doubt – can be called a permanent state of crisis and the second year of a cost-of-living-crisis, it is important for us to understand how shoppers across Europe are coping, to detect trends and changes. It is by no means only a story of lost, little, and less, but also about changing the narrative and finding opportunities.
This whitepaper discusses the current situation of the industry, how the costs of living will further affect shopping, and recommendations to create brand value. Budgets are still under pressure but following the initial shockwaves of food inflation and energy price explosion resulting in buying less at cheaper prices, shoppers are now engineering their budget to fit their needs and principles. While reason prevails, emotion is re-emerging, with an opportunity to motivate shoppers beyond pure price incentives.
Among other sources, this whitepaper centers on the GfK Behavior Change Report, conducted for the third time in March and April 2023, following a first and second wave in April and November 2022. This year, we expanded the survey to 18 European countries – 10 in Western Europe, eight in Central and Eastern Europe – interviewing 13,450 shoppers, providing a substantial foundation to understand how behaviors are evolving.
