The impact of the Middle East war on Europe: High prices impose smart purchasing management on families
The Middle East War is increasingly and significantly affecting consumption behavior in Europe, according to a recent analysis.
And through Rising costs of energy, fertilizers and logistics The conflict is directly affecting households in Europe, forcing consumers to follow more structured purchasing strategies, according to an analysis issued by the market research institute (YouGov), which combined several surveys and ratings.
2022 Crisis
Since the beginning of the cost of living crisis in 2022, consumer price caution has remained at a high level.
/>Stefan Lohmann, senior advisor at the institute, said, according to a statement: "Crises and wars, such as the conflict in the Middle East or Russia’s war with Ukraine, promote structural changes in European consumer goods market"
Loman added: "Today’s rising costs coincide with a consumer environment already characterized by persistent inflation"explaining that consumers’ reaction to this is not a sudden abandonment of spending, but rather through more discriminating and selective management of their purchasing behavior.
Budget adjustment
According to the analysis, many consumers in Europe expect that they will have to reduce their spending in the near future, especially those who have already had to adjust their budgets before.
This expectation is an additional factor that enhances price awareness and austerity in consumption. The analysis included more than 8,000 people over the age of 18 in 6 European countries during the period from 11 to 25 last March.
At the same time, the analysis indicated that the burdens of high living costs have become a daily reality for many, as families in several European countries reported increasing difficulties in covering basic expenses, such as: energy, transportation and foodstuffs, including Germany, where cost pressures are worsening in various spending categories.
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