The rapidly rising prices in almost all areas of life are currently causing people in Germany greater concern than anything else. Even the war in Ukraine cannot keep up, and certainly not the corona pandemic. This is the result of a representative survey by the management consultancy McKinsey published on Monday.
Around 48 percent of the more than 1,000 respondents said in the survey in mid-June that their biggest concern is currently inflation – a significant increase compared to April. At that time, 40 percent of those surveyed named price increases as their main concern. “Consumers’ concerns about further price increases are growing,” said McKinsey expert Marcus Jacob.
Less fear of Ukraine war
The fear of the Ukraine war, on the other hand, has diminished in recent months. While in April one in three respondents (34 percent) said the invasion of Ukraine was their greatest concern, in June only one in four (24 percent) did so. Despite the currently high number of infections, not even one in twenty (4 percent) named the corona pandemic as their greatest concern.
According to the survey, the rising prices are already having a noticeable impact on the everyday lives of many people. “The vast majority – 73 percent – have already changed their shopping behavior in order to save,” reported Jacob. Instead of expensive branded items, the retail chains’ own brands often end up in the shopping cart. Instead of going to the supermarket or specialist shop, people are more likely to shop at discounters. “This trend is accelerating,” Jacob said.
According to McKinsey, because more money has to be spent on petrol and groceries, savings are also being made on clothing and shoes, but also on furniture and electronics. And it is less placed on the high edge. After all, 59 percent of those surveyed stated in the survey that they would now pay more attention to the energy consumption in their own four walls. (dpa)