Some 81% of French families are worried about the financial stability of their household, a survey carried out by BVA as part of retailer E. Leclerc’s New Consumption Observatory has found.
The survey found that inflation, health concerns, global warming and the Ukraine conflict are all weighing on consumer confidence in France, however households are showing inventiveness in order to maintain their standard of living.
‘The worst is yet to come’
Few respondents are optimistic about the future – 80% of families believe ‘the worst is yet to come’, while 92% state that they are now more careful with their spending and more than a third (34%) note that they ‘count to the nearest euro’ when shopping.
“When we talk about it, we tell ourselves that life is getting worse and worse; we fear that after a while, we won’t be able to keep up,” as one respondent put it.
Moreover, many respondents have reduced or are considering reducing their energy expenses (53%), their travel (50%), their food expenses (49%) and certain leisure activities (49%).
Resilience and adaptability
However, despite prevailing concerns and a sense of pessimism, French families do not consider themselves defeated; rather, they exhibit resilience, adaptability, and employ various strategies to maximise their income, the survey found.
These strategies include seeking out promotions and good deals, utilising cashback applications, managing expenses, opting for store brands more often, optimising travel to save on fuel costs, and reducing certain expenditures.
The survey found that two thirds (65%) of families surveyed indicate that they have discovered methods to optimise their income, thereby safeguarding their quality of life and finding enjoyment in their consumption habits.
