Consumer study on year-end purchasing 2008
Careful consumers in uncertain times
The Deloitte year-end holiday survey has been regularly performed in Belgium since 1998 as well as in other countries in Europe.
For consumers and retailers, the end of the year holiday season is particularly important:
- a peak in consumption which is a determining factor for the results of retailers and their suppliers
- a period to which consumers look forward in order to realize their dreams and to embrace what is new.
Since we began this survey designed to predict consumer behaviour, rarely have we been confronted with such an uncertain environment. On a daily basis, consumers need to cope with an avalanche of negative economic indicators, which influences their mindset, and consequently, purchasing behaviour. Our survey was performed early October, when the financial crisis significantly impacted Belgian financial institutions.
11th Christmas study from Deloitte shows:
Overall reduction in the amount of year-end purchases estimated to reduce only 4%, despite the high level of uncertainty in the market.
- Belgians are more pessimistic about the economic situation than their West-European neighbours
- More Belgian consumers will set a Christmas budget to avoid impulse buying
- The current economical environment affects ethical consumption choices
- Using the Internet for end of year shopping sees real breakthrough
- Deloitte launches ‘Managing in Uncertain Times’ initiative
Year-end survey 2008 (English version)