Germans are currently very worried about war, inflation and climate change. In a global survey of 18,000 consumers, the German auditing and consulting company EY examined how the current crisis situation is affecting people’s mood to buy.
Almost all of the 1,000 respondents in Germany are currently worried about international conflicts and war (98 percent), rising living costs (97 percent) and climate change and its consequences (91 percent). According to their own statements, the majority are even extremely concerned: 60 percent say this in relation to war, 61 percent about rising living costs and 48 percent when it comes to climate change. On average around the world, the rising cost of living (57 percent) is by far the most frequently cited concern when it comes to extremely serious concerns. This is followed by the economic situation in Germany (45 percent), international conflicts and climate change (both 43 percent).
Germans expect the most direct influence on their lives
Consumers in Germany expect that rising costs for electricity, gas and water will have a major impact on their lives over the next year. Two thirds (67 percent) stated this – in a global comparison it was 59 percent. Customers in Germany (61 percent) are also more aware of the rise in food prices than the global average (56 percent).
In contrast, in India (76 percent) and China (62 percent), the majority of respondents say their situation will improve over the next three years. In the USA, too, the proportion of those who say this predominates. Our European neighbors are also less positive about the future. In Germany, on the other hand, almost every second person (45 percent) believes the opposite – and expects their current situation to deteriorate.
Germans save the most for climate protection worldwide
However, the widespread concern about climate change also shows that the issue of climate protection has reached the heart of German society. When it comes to mitigating or even turning back the consequences of climate change through personal contributions, customers in Germany are in the top group in an international comparison. 63 percent state that they save as much energy as possible in order to protect the environment – and their own wallet. In a global comparison, only 47 percent are trying to reduce their own ecological footprint. Almost a third of those surveyed in Germany (29 percent) also state that they do not drive and prefer to travel by bus, train or bicycle instead. Worldwide it is 22 percent.
Contradiction: Desire for climate protection and economy
With regard to organic products, many consumers are currently faced with a contradiction. On the one hand, there is a willingness to buy more sustainable products, but at the same time these are often more expensive than others. High costs are the main reason that deters customers in Germany from buying organic products. Seven out of ten respondents (70 percent) say this, slightly more than in an international comparison (67 percent). In addition, German consumers cite the supposedly poorer quality of sustainable products (58 percent) as another reason. In this country, however, more than a third (38 percent) are simply not interested in environmentally and climate-friendly alternatives to conventional products. It is almost half of the customers worldwide (43 percent).
What does this mean for retail?
The uncertain situation is causing people to be more cautious about their purchasing behavior. The willingness to try new, cheaper products is growing.