European consumer sentiment survey: How current events are shaping French consumer behavior

As inflation rises, French consumer hopes for economic recovery wane, with optimism sinking back to the lows of lockdown.

Optimism regarding the economic recovery has decreased to 14 percent in France—levels last seen in the height of COVID-19 lockdowns. Top sources of concern are rising prices, the invasion of Ukraine, and political uncertainty. Nine out of ten survey respondents perceive high price inflation in the country, and 60 percent expect prices to rise further over the next year. These trends have potential implications for consumer loyalty: in the search for higher purchasing power, 69 percent of respondents have tried new shopping behaviors in the last four to six weeks. Household products remain the most impacted category, with 65 percent of consumers switching for cheaper options.

These exhibits are based on survey data collected in France from April 12–18, 2022. Check back for regular updates on French consumer sentiments, behaviors, income, spending, and expectations.

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