Energy prices are rising: Austrians are more economical when shopping

Energy prices are rising: Austrians are more economical when shopping

Increased inflation and high energy prices have brought financial challenges for many households in Austria. According to a comprehensive study, around a third of households in the country are affected by financial bottlenecks. These economic burdens have a significant impact on the consumer behavior of Austrians. Many consumers have become more cautious and are paying more attention to their budget when shopping. People are increasingly only buying the essentials, and cheap own brands are becoming increasingly popular.

The consumer study, conducted by Consumer Panel Services GfK, a YouGov company, was based on the participation of around 15,000 consumers from 21 countries, including 746 from Austria. The results illustrate the effects of the current economic situation on the purchasing behavior of people in the country. It turns out that, given the financial burden, many Austrians are making more responsible decisions and switching to price-conscious shopping habits.

The need to be more frugal and use budgets more efficiently reflects the reality of many households in Austria struggling with financial constraints. The rising cost of living and persistent inflation have led consumers to be more conscious about their spending. The increased preference for cheaper products and private labels shows how many people's financial situation influences their purchasing decisions.

Overall, the study illustrates the importance of conscious and responsible use of financial resources in times of economic uncertainty. While many households in Austria are faced with financial challenges, the results of the study also show the adaptability and common sense of many consumers in the face of this difficult situation. It remains to be seen how the economic situation will develop and what measures will be taken to offer support to households in financial distress.