Four fifths (81%) of French families are worried about the financial stability of their household, a survey by retailer E.Leclerc has found, with inflation, health concerns, global warming and the Ukraine conflict all weighing on consumer confidence.
The survey, conducted by BVA as part of E. Leclerc's New Consumption Observatory, observed that French households are displaying resourcefulness to uphold their standard of living.
Lack Of Optimism
Few respondents express optimism about the future, with 80% of families believing that 'the worst is yet to come'. Additionally, 92% state that they are now more cautious with their spending, and more than a third (34%) mention that they 'count to the nearest euro' when shopping.
Moreover, many respondents have reduced or are considering reducing their energy expenses (53%), their travel (50%), their food expenses (49%) and certain leisure activities (49%).
"When we discuss it, we realise that life is becoming increasingly challenging; we worry that we won't be able to keep up," said one respondent.
Demonstrating Resilience
Despite prevailing concerns and a lingering sense of pessimism, the study found that French families are exhibiting resilience and adaptability, employing various strategies to maximise their income, the survey found.
These strategies include seeking out promotions and good deals, utilising cashback applications, managing expenses, opting for store brands more often, optimising travel to save on fuel costs, and reducing certain expenditures.
Some two thirds (65%) of families surveyed indicate that they have discovered methods to optimise their income, thereby safeguarding their quality of life and finding enjoyment in their consumption habits.
Read More: Online Now Accounts For 10% Of The French Grocery Market
