As in all aspects of consumption, the war in Ukraine. The energy crisis and the constant growth of inflation are causing great changes in consumers’ routines. Kantar has analyzed this environment in the first seven months of 2022 and this is what it has forecast for the end of the year in its report. One of the most notable data from the study is the inflation rate. Which stood at 13.7% in mid-July in the last quarter. According to Kantar experts. This data is marked by variability. Because many distributors and manufacturers have managed to ensure that inflation does not affect certain products and categories too much. Such as oil and dry pasta.
How does this situation affect consumers?
Consumer behavior has changed a industry email list lot in recent years and inflation is causing a reduction in spending. Consumption in Spanish pockets . 52% of Spaniards say they cannot make ends meet and consumption in technology and fashion decreases . As Kantar explains. The level of waste has decreased by -12.3% , in addition to increasing the number of single-dish meals. In the last quarter at the end of July. 2 out of every 5 Spanish households reduced their average spending by 10% compared to last year.
Inflation the situation and prospects for 2022
According to the data provided BTC Database EU by the Kantar study. Mass consumption will present a stable evolution : «the growth of mass consumption is always related to that of inflation. In this context. There is an opportunity for growth. Since the buyer is assuming on average since 2008 up to 77% of the increase in prices due to inflation. They defend. «The big difference with other periods of crisis has been marked by the end of the pandemic. However, in the current crisis the number of vulnerable households has increased. Reaching 40%, who are more likely to change their purchasing habits,” stressed Mayte González , shopper expert at Kantar , Worldpanel division.