Czechs save. The most ever recorded

Czechs don’t have money and save on food at record levels, look for discounts and deny themselves quality food. Statisticians note the deepest drop in the period of monitoring of retail sales. Changes in the behavior of Czech customers are confirmed by the chain, reports CNN Prima News.

Data from the Czech Statistical Office (ČSÚ) show that sales of food fell by more than 10% year-on-year. This is the most significant decrease since 2001, when this indicator has been monitored. After more than a year of rising prices, people are starting to change their purchasing behavior. The latest retail sales figures available so far for December of last year support the food research.

According to Vladimír Pikora, Chief Economist of the Comfort Finance Group, the December results are proof that people don’t have money and are saving. “The decline in real sales mainly shows the transition from more expensive food to cheaper food, or the transition from higher quality products to their substitutes. I find it alarming that the drop in food sales is the largest since statistics began. Therefore, we cannot be surprised that there are more dissatisfied people in the economy,” stated Pikora for CNN Prima News.

Retail chains are also admitting a change in the shopping behavior of Czech customers, choosing more items that they offer under their own brands at lower prices. “Demand for discounted goods is also growing. The greatest interest is in promotional goods in the form of basic foods such as eggs, butter or milk. Due to the rising prices in restaurants, we are also registering an increased interest in ready-made meals,” Lidl’s press spokesman Tomáš Myler told CNN Prima News.

Similarly, they notice differences in Kaufland. There, too, people are taking advantage of discounts and the demand for premium and luxury foods has slightly dampened. “In these cases, products of another brand are replaced. Nevertheless, there are groups of customers who are looking for premium products,” said company spokeswoman Renata Maierl.

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