How current events are shaping Italian consumer behavior

In Italy, consumer pessimism about the country’s economy is largely explained by growing concern about rising prices, with clear evidence of trading down.

Italian consumers increasingly worry about rising prices; climate change is the number-two concern, especially for younger generations. The invasion of Ukraine (in third place) is most often a concern of high-income, older individuals, while the less wealthy dominate concern about unemployment. Hope for an economic recovery is lower than during the lockdown period of the COVID-19 pandemic.

Consumers witnessed price increases, especially in groceries and energy. To cope, they are changing purchase behavior: shifting to discounters and private labels and opting not to splurge. The leading factors in choices of brands and retailers are lower prices and value for money. Even for holiday shopping, most consumers are planning to spend less this year.

These exhibits are based on survey data collected in Italy between September 23 and October 2, 2022. Check back for regular updates on Italian consumer sentiments, behaviors, income, spending, and expectations.

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