The desire to go on vacation remains – people save on food, but not on travel

“The effects of inflation are especially evident in everyday products such as groceries or personal care products,” market research firm GfK said based on a survey in Germany. In the months of January to May, this area recorded a large volume decline. 8.2 percent less meat and sausage products, 8.5 percent less fresh vegetables or fruit and 7 percent less pastries were purchased.

But it’s not just about buying less. Special offers or the manufacturer’s own brands are also used more often. The share of own brands in total turnover grew by 34.6 percent in the first quarter. For 36 percent of people, price is currently the most important criterion when making a purchase decision.

Travel industry happy with increase in turnover
While everyday products saw a sharp decline in volume, the travel industry developed in the opposite direction. After more than two years of the corona pandemic, consumers have a lot to catch up on. The booking figures for private holiday travel in the current summer season are comparable to the last pre-pandemic year 2019, in some cases even exceeded.

Textile discounters are growing strongly
There has also been a backlog of demand in the area of ​​clothing during the pandemic. Right now, fashion buyers are deliberately trying to avoid inflation. The average price paid was slightly below that of May 2019. According to the market researchers, there are two strategies behind this: consumers buy cheaper products in specialist stores or switch to other sales channels with lower prices. The textile discounters were happy with a double-digit increase in sales.