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

Rising prices and the invasion of Ukraine are top concerns for German consumers, fueling a general slide into economic pessimism.

German consumers share significant concerns regarding the state of the economy and its future outlook—with public sentiment sinking lower than at any time during the height of the COVID-19 pandemic. Survey participants felt the greatest concern about rising prices and the invasion of Ukraine. Spend on groceries and gasoline has significantly increased, even as consumers cut spending in non-essential categories. Almost two-thirds have assumed new shopping behaviors in the last four to six weeks, with more than forty percent trying private-label brands. There’s a clear trade-down trend in stores visited and brands chosen, with prices and value for money as key drivers.

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

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