The effects of the cost of living: 80% of the public will prefer a private brand
The cost of living has become a central part of both the public and private agenda, when every day, you hear about another brand raising prices.
A scale of the Hot Consumer Club examined the behavior of consumers in Israel in a variety of categories - the surprising findings are in front of you
I have Sibylia
02/10/2022
Sunday, 02 October 2022, 16:16 Updated: Wednesday, 12 October 2022, 10:26
Share on Facebook
Share on WhatsApp
Share on Twitter
Share by email
Share in general
Comments
Comments
The buying habits of Israeli consumers have changed due to price increases (Photo: ShutterStock)
Prices are rising, interest rates are soaring and apartment prices continue to climb.
The Hot Consumer Club, which has over 300,000 members, promoted a survey in which the behavior of Israeli consumers was examined following the cost of living in a variety of categories: changes in consumption, checking accounts and financial management, and these are the results of the survey:
How many of the consumers checked the bill for communication services? (Photo: Courtesy of the Hot Consumer Club)
Changes in consumption habits
Almost half of the public (44%) report a
reduction/cease in buying basic food products for the home
following the increase in prices in the economy, in particular they report a decrease in buying meat, chicken and fish, as well as fruits and vegetables.
Also, a significant proportion of the public reports a reduction/stopping of buying dairy products and canned goods.
Naturally, these figures are higher among those with a salary below the average.
Most of the public (80%) believe that
following the price increase they will buy less or reduce the purchase of the brands
they used to buy.
Accordingly, about 80% of the public report that
they would prefer to purchase groceries produced by the 'private label'
, in such and such quantities.
Despite the significant effect of the price increase on the public and the willingness to change their buying habits, about 70% of the public spent last summer on vacation and/or are planning to go on vacation.
More in Walla!
Castro Home celebrates a year with a new and festive collection
In collaboration with Castro
A significant proportion of the public reports a reduction in buying dairy and canned goods (Photo: ShutterStock)
checking accounts
Over 80% of the respondents in the survey report that they or someone else in their household
checks the bills
received for house maintenance payments (electricity, water, communication services).
This figure mainly characterizes men, married women and those with families with children.
Also, the proportion of respondents who checked the three types of accounts increases as the age increases.
On the other hand, about a tenth (8%-14%) report that they do not check the accounts at all, and in particular the communication accounts (14%).
In addition, the procedure
of checking the receipt after shopping in the supermarket
is higher and covers 90% of the respondents, with 58% of them (53% of the public) checking regularly.
74% of the public constantly monitors credit expenses (Photo: ShutterStock)
Monitoring of expenses on credit
The survey data shows that
a third of the public is not familiar with the payments required of them for operations performed by them on the bank account and a similar percentage is not familiar with the costs of maintaining the credit card
.
These data mainly characterize women compared to men.
In addition, with regard to payment through credit, a considerable majority follow up, with about 80% of them (74% of the public) always following up.
Tzvika Vilnai, CEO of the Hot Consumer Club: (Photo: Chen Galili)
"The survey illustrates how much the cost of living affects consumers"
Tzvika Vilnai, CEO of the Hot Consumer Club:
"The consumer survey that we conducted in front of the Israeli public, illustrates how much the cost of living affects consumers, and the consequences that are expected in the future among the big brands that continue to raise prices.
The role of the government is to take responsibility and act to lower prices immediately and in all areas.
The Hot Consumer Club has set itself a goal of lowering the cost of living for its colleagues and empowering them as consumers, and this is how we will continue to achieve the goal."
Of money
consumption
Tags
Cost of living
buy
Shopping
consumption
consumption
Consumption habits
price increase
