Consumers can’t wait to start spending

Consumers can’t wait to start spending

Tavernas, concerts and travel are the main objectives in Greek consumers’ spending plans once those activities are allowed, given the lack of all but at-home entertainment due to the lockdown, according to a survey by the Research Institute for Retail Consumer Goods (IELKA).

A large share of consumers also appears ready to make sizable purchases from stores – given that retail commerce has yet to fully reopen – while many Greeks can’t wait for their summer holidays.

On the other hand, there are many people who still feel reserved, as a third of survey participants said they will not go to any restaurants before the end of this year and more than half said they will keep donning face masks even after 2021.

IELKA recorded Greek consumers’ plans and habits between April 1 and 6, finding that 34% of respondents will resume going to restaurants from the first couple of months after the lockdown, with another 30% saying they will do so later in the year and 33% that they’ll wait until next year. Stores hold more appeal for consumers at the moment, with 41% expecting to visit them immediately and 24% later in the year.

Half of the consumers polled will increase their spending in the next few months to enjoy eating out (after the reopening of food service), 42% will spend more on concerts and other events, 39% on travel and 35% on apparel.

The IELKA survey further found that three out of 10 consumers will go for their usual holidays this summer, while two in 10 will go on more restricted trips than before the pandemic. Twenty-seven percent said they do not know what they will do and another 24% will not go on holiday at all. A remarkably high 11% said they will not be able to take a vacation next year either.

At the same time IELKA established that some of the habits acquired during the pandemic will stay on: Although 19% said they will stop wearing a mask when it ceases to be mandatory, the majority (52%) said they will continue wearing a mask even after 2021. It remains unknown when masks will cease to be mandatory outdoors.

Furthermore, three in 10 will continue to avoid going out, and 25% said they will continue to carry antiseptics with them.

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