Citing a study by the EY consulting firm, Die Welt newspaper reported that about 56% of Germans surveyed said they had almost given up on buying new clothes. TASS.
Also, 56% of German consumers reported that they currently avoid purchasing TVs, smartphones, laptops and game consoles. In addition, nearly one in two people now use less fuel, and a quarter report saving on medication.
In addition, every second participant said that at the moment they can only buy the most necessary things.
German households are planning further spending cuts in the coming months, according to EY analysts. They especially plan to save on food distribution and entertainment.
focus on last week WroteMore than 300,000 or about one in ten businesses in Germany are under threat of destruction.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.