Inflation is forcing the French to slow down their Christmas shopping even though this period is one of consumers’ favourites…
Consumer behavior has changed, it’s obvious
It’s a frank and sharp decline in toy purchasesunderlines the president of the Système U stores, Dominique Schelcher, when he was the guest of franceinfo this Tuesday.
A 20% drop in Christmas shopping
This drop is significant since it is down 20%. Toys and chocolates are very affected. In the line of sight the inflation which weighs on the French households. Dominique Schelcher: “Purchases of Christmas toys are down “20% in general” and “10% at Système U. Consumer behavior has changed, that’s obvious. There are two ways for them to adapt to this inflationary tension and the tension they have in their purchasing power: It is to buy differently or to buy less. Both phenomena are happening now“, remarks the boss.
Rising prices make consumers think a lot
Rising prices make consumers think a lot: “Toys have gone up a bit this year, it’s true, so I think there’s an impact on customers’ buying decision. Chocolates are less in demand because it is a pleasure and non-essential purchase (less 8%” in general and less 5% at Système U). When it starts badly, it is not certain that we catch up with these sales!“.
When it starts badly, it is not certain that we catch up with these sales
Another study confirms the current trend: that carried out in partnership with the Fevad (Federation of e-commerce and distance selling) and Toluna Harris Interactive for Black Friday and Christmas shopping. The online survey shows that 30% of respondents do not think they will take advantage of Black Friday operations this year, including 9% for sure, mainly among those aged 50 and over. Purchasing power concerns are the main reason for not participating in Black Friday on Internet : 37% of non-participants prefer to make savings in the current context, in particular among the youngest (58%) and low-income professions (CSP-): 40%.