French consumers’ pessimism about their country’s economic recovery reaches higher levels than during COVID-19 lockdown periods in 2020. They are increasingly worried about the effects of rising prices, and a majority expect prices to keep increasing in the coming year.
As spending increases in mandatory categories (for example, groceries, energy, and fuel), French consumers tend to spend less in other discretionary categories and to adopt new behaviors. Twenty percent changed retailer or store in the last three months, mostly switching to discounters. Sixty percent changed a groceries or other essentials brand in the last three months, mostly choosing lower-cost brands or private labels.
These exhibits are based on survey data collected in France between September 23 and October 2, 2022. Check back for regular updates on French consumer sentiments, behaviors, income, spending, and expectations.