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Europe’s consumers between contentment and fear of the future

18.10.2006

Europe’s consumers between contentment and fear of the future

With this first comprehensive study about consumer behavior in the European Union, the METRO Group refutes a pessimistic view of Germany: The Germans are by far the most content nation in Europe. More than two thirds of all Germans stated that they were at one with their lives. The bleakest concerns about the future are entertained by the Spanish. The Polish take the greatest joy in shopping and the British consume the most. One widespread assumption was confirmed by the study: The most parsimonious shoppers are the Germans. These are results from the first representative survey of consumer behavior in Europe, which involved several thousand interviewees.

The METRO Group presents this study entitled the METRO Group European Consumption Report on the occasion of its European Consumption Conference on 18 October 2006 in Berlin. Another fundamental result of the survey is that European citizens have a similar view of their economic situation but that their consumer behavior differs strongly.

"In our study we have examined questions that are of interest for politics and industry alike. The results illustrate that the process of European harmonization has advanced well in the consumers’ minds", said Dr. Hans-Joachim Körber, CEO of the METRO Group. "The European consumers have realized that their personal economic situation is not primarily determined by national factors. The conditions of globalization and thus of competition, where Europe as a whole has to compete against the USA and Asia, are the crucial factor", explained Dr. Körber. "In view of the challenges which we are facing, Europe needs a new, positive impulse for its future." With the representative survey of consumption in the EU the METRO Group wanted to actively contribute to strengthening the concept of a united Europe.

The study shows that, although the European Union is the largest economic zone in the world in terms of gross domestic product, the USA are the world champions of consumption. Whereas more than 450 million Europeans spend an annual amount of roughly € 6.3 trillion for their personal needs, 299 million US citizens attain a consumption volume of around € 7 trillion.

Within Europe the British are the greatest spenders. In 2005, they spent around € 6,700 per capita on consumer goods. The Italians achieved a per capita consumption of € 5,600 followed by the French with € 5,500. The Germans ranked fourth with nearly € 5,400. The Hungarians came in at just under € 2,100 and the Polish at € 1,500. But the difference to the West is dwindling because these countries post high growth rates in the demand for consumer goods.

31 percent of the British interviewees indicated that they "sometimes also live beyond their means". In Germany, this statement was only confirmed by 12 percent of the consumers. 52 percent of the Germans say that they "cannot sleep in peace with debts”. In Hungary, this statement was affirmed by 62 percent of all interviewees while in Great Britain it only holds true for 29 percent of the respondents.

The study confirmed one common concept: German consumers are the most price-conscious. 55 percent of the interviewees declared: "I compare prices even on minor purchases." In Great Britain, the share was of only 39 percent.

The greatest shoppers in Europe are the Polish. 38 percent of the interviewees declared: "I really enjoy shopping." In Germany, this statement was only confirmed by 24 percent of the respondents. 33 percent of the German citizens said: "I spend my money very reluctantly."

This notwithstanding, the Germans are not pessimistic. Quite the opposite: 69 percent of the interviewees confirmed the statement: "I am satisfied with my life." No other nation in Europe achieved such a high value in this study. The Spanish came in second with a 66 percent approval. The taillight in Europe is Hungary, where only 47 percent of the interviewees supported this view. The Spanish are particularly skeptical about the future. 58 percent of the interviewees affirmed the statement: "I am very worried about the future." In Poland, the result was 53 percent and in France 48 percent. In Germany, 41 percent of all citizens view the future with concern. In Great Britain, by contrast, such concerns were only entertained by 29 percent.

One of the major reasons why the Germans are not so keen on consuming lies in the uncertainty about the future of the social systems. 81 percent of the interviewees subscribed to the view: "I have to save more for my old age than I had previously thought." This percentage is by far the highest in Europe. The Italians came in second with 71 percent. The lowest approval rate for this statement was recorded for the Spanish with 54 percent.

Another question clearly illustrates why the British consume much more than for example the Germans. 33 percent of the British confirmed the statement: "Our country is in a good economic shape." In Germany, this was only affirmed by a mere 20 percent of the population, in Italy by only 10 percent and in Hungary by as little as 7 percent.

The survey, which represents the first comprehensive study of this type, overall identified a wealth of common ground regarding the attitudes and expectations for the future of the consumers. At the same time it also showed differences in the growth and prosperity as well as in the actual consumer behavior. The METRO Group will present the detailed results of the study today at its European Consumption Conference in Berlin.

The METRO Group commissioned the Wissenschaftliche Hochschule für Unternehmensführung (WHU) in Koblenz with the survey of consumer behavior in Europe. In representative countries for this economic region, i.e. in Germany, Great Britain, France, Spain, Italy, Poland and Hungary, which generate 80 percent of the EU’s gross domestic product, the WHU conducted a secondary analysis of macroeconomic data as well as of budget and consumption-related factors. The results were then linked to the results of a representative consumer survey conducted by the market research institute TNS Infratest in March 2006. In each country 1,000 people were interviewed. The METRO Group plans to repeat this survey at regular intervals.

METRO Group is one of the most important international retailing companies. In 2005 the group reached sales of € 55.7 billion. The company has a headcount of about 250,000 employees and operates more than 2,200 outlets in 30 countries. The performance capability of the METRO Group is based on the strength of its sales brands which operate independently in the market: Metro/Makro Cash & Carry – world market leader in self-service wholesale, Real hypermarkets and Extra supermarkets, Media Markt and Saturn – market leader in European consumer electronics centers – and Galeria Kaufhof department stores.

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