Covid-19 in Europe, Italians were very worried about the economic recession

Consumers are slowly starting to adapt to the complex environment due to Covid-19. However, 60% of them (up from 45% in July) believe it will take more than 12 months before things return to normal.

All in all, The younger generations are the ones who say they care the most. The second epidemic wave caused renewed concerns about their health, especially in Germany and Italy, countries whose citizens adapt more to the measures envisaged by the authorities than the first wave.

In addition to health concerns – according to what emerges from Bain & Company’s recent analysis “EMEA Consumer and Shopper Pulse” – the financial impact of Covid-19 is causing great anxiety among consumers, especially in Italy.

Covid-19 has had a major impact on employmentAround 40% of European citizens have experienced a significant reduction in employment or even job losses, with Italy topping this ranking. Italian consumers – among European consumers – were the ones most concerned about the recession in their country.

Cuts in unnecessary purchases, due to concerns over their finances – combined with fewer spending opportunities due to restrictive measures in place in many countries – have postponed some planned expenditures and the importance of Reducing expenses for all groups (Entertainment, meals, travel).

The only category with a positive trend is the food categoryWhich has seen an average increase of 30% compared to pre-pandemic times. Italy – in terms of spending on this type of product – is second only to the United Kingdom. Indeed, despite the slight decrease in this trend, Consumers continue to prefer the home consumption of meals, 80% of the shopping for products for home cooking and eating takes place. For health reasons and to spend less.