Greek consumers appear restrained when it comes to shopping during this year’s holiday season, according to the findings of EY’s research, Future Consumer Index Greece 2024.

At the same time, the main purchasing criteria of consumers remain price, quality and offers.

The survey, which is carried out annually in Greece from 2021 in collaboration with MRB, as part of EY’s corresponding global survey series, monitors consumer trends, preferences and concerns in the fluid environment of high inflation and economic uncertainty of recent years. It is noted that the detailed results of the research will be presented in December.

From the same as last year to nothing…

Specifically, in a related question, one in three survey participants (36%) said they intend to spend less money during the festive period of Christmas and New Year, compared to last year.

More than half of respondents (54%) said they would spend approx the samewhile 4% will spend more and 6% will not make purchases.

Intention to holiday shopping is directly linked to age of consumersas only 26% of respondents aged 18-29 said they would spend less or not at allwhile this percentage doubles in age group 50-64 (50%).

More loosely appears the connection with income criteriapossibly suggesting that the reluctance to buy isn’t just due to high prices and a squeeze on disposable income.

The mood for reduced or zero purchases during this year’s holiday season in Greece is formed exactly at the same level in the typologies of consumers who attribute primary importance on price and affordability of products (Affordability First), but also the impact of their purchasing choices on society (Society First), reaching 50% in both categories.

The survey participants were also asked about the most important criteria based on which they will make their purchases during the holiday season.

Price emerges, by far, as the most important criterion (95%), followed by quality (65%).

Consumers, especially older ones, also attach importance to whether the product is in offer (55%)while for 28% of consumers aged 18-29, the brand of the product is also important. Less importance is attached to personalization (16%), online reviews from other consumers (15%), ease of return or exchange (10%), and flexibility and delivery options (8%).

Accordingly, globally, according to the latest data from the EY Holiday Shopping Survey, nearly two-thirds of the 13,000 consumers surveyed (64%) are wary of holiday sales, while 45% are skeptical about the affordability. them to allocate money for this period.

Commenting on the holiday shopping intentions of Greek consumers, according to the survey, EY Greece partner and EY South East Europe Retail Head, Thanos Mavros, said: “There is no doubt that the global economic and geopolitical uncertainty affect the mood for purchases during the festive season, as confirmed by the importance that Greek consumers attach to product prices. However, we observe the same on a global level, highlighting a more general conscious shift of consumers towards more moderate purchasing behavior, looking for the best quality at the best possible value”.