Consumption, fragile families almost doubled in a few months

Consumption, fragile families almost doubled in a few months

In the coming months, 96% of Italians will review their spending priorities, focusing on the domestic sphere and limiting the outside of the home. Rising energy and consumer product prices carry a long trail of consequences. L’inflation is at 4.8% and consumers have already equipped themselves, applying some self-defense strategies to be able to save: an extra eye on prices and a different mix of products in the cart, behaviors that have led to a reduction in real inflation to 2.6%. These are the data that emerged from the survey conducted by NielsenIQ who investigate the new buying behavior of Italians, now in response to the crisis conveyed by pandemics, war and inflation.

Even families with stable assets are seeing their certainties underminedand in a few months they lost 20 points of trust.

The range of inequality: in February 2022 the category of the “fragile”, who live in financial insecurity, accounted for 10%, in May it almost doubles and rises to 17%.

The category of “Convalescent”which has recovered purchasing power, from 14% to 9%, while that of the “cautious” is quite stable, who despite not having suffered any impacts remain cautious, passing from 52% to 54%.

The “stable” – who have not faced financial insecurity and have kept their purchasing habits unchanged – lose 2 percentage points, from 18% to 16% and 3 points “Antifragile”, who have saved money and now feel safer, dropping from 7% to 4%. As for the average annual expenditure of the “fragile” NielsenIQ records an increase of 10.8% on 2019 because families have made consumption outside the home converge in domestic spending. While the “stable” see an average annual expenditure growth of 6.8%.

Consumers have also diversified i purchasing channels, which become more hybrid with 7 different brands in one year and new channels: e-commerce and discount stores are increasing, in the direction of greater convenience and comfort. Channels that conquer, in the first four months, 3 points of share compared to before the pandemic, with the discount that reaches 20% of the value of the consumer market.

In the last year 10.8 million families have purchased consumer products online, of these as many as 50% are over 50, whose receipt is worth two and a half times the value of what they spend offline. They choose the online channel for its convenience and time saving.

By analyzing the demographic curve in a predictive way, NielsenIQ estimates that in ten years there will be 2 million fewer individuals and the prevailing age group will be precisely that between 55 and 70 years. Technology will have to play an increasingly important role to simplify the online shopping experience for people who are already familiar with this channel. With the over 50 group dominating numerically, the structure of the Italian family also changes, which will no longer have children at home, and will therefore change the basket of goods.

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