{"id":21804,"date":"2022-02-23T18:08:01","date_gmt":"2022-02-23T17:08:01","guid":{"rendered":"https:\/\/observatoirecetelem.com\/?page_id=21804"},"modified":"2025-11-27T17:43:38","modified_gmt":"2025-11-27T16:43:38","slug":"spending-more-while-remaining-prudent","status":"publish","type":"page","link":"https:\/\/observatoirecetelem.com\/en\/lobservatoire-cetelem-de-la-consommation\/circular-economy-the-rise-of-the-consumer-entrepreneur\/spending-more-while-remaining-prudent","title":{"rendered":"Spending more while remaining prudent"},"content":{"rendered":"
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The health crisis had led to a marked decline in people\u2019s desire to spend and a greater willingness to save, with the notion of precautionary saving being more relevant that ever before. The 2022 Observatoire Cetelem Barometer sees this trend reversed somewhat. However, the reversal is not complete, because while the desire to spend more is up 7 points (Fig. 4 Barometer)<\/strong>, the desire to save more is as strong as in the previous edition (Fig. 6 Barometer)<\/strong>.<\/p>\n<\/div>\n\n

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\n Fig. 4 Intention to increase expenses in 2019-2022\n <\/p>\n \n \n Download this infographic for your presentations\n <\/a>\n <\/div>\n

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\n \"Percentage\n \n The infographic presents, in percentage, the share of people who answered “Yes” to the question: “In the next 12 months, do you think you will increase your expenses?” The data covers 2019, 2020, an intermediate measure in September 2020, 2021, and 2022, for 17 European countries.\nHeader: \u2022 Average of 15 countries in 2021: 34% \u2022 Average of 17 countries in 2022: 41% \u2022 Average evolution 2021-2022: +7 points\nThe arrows are decorative.\nKey Visual Elements \u2022 List of countries with flags. \u2022 Rates of people who want to increase their expenses. \u2022 Variation 2021 \u2192 2022.\n\nTranscription of Data\n\nCountry 2019 2020 Sept. 2020 2021 2022 Var. 21-22 \n\nGermany 32 28 23 30 32 +2 \nAustria 45 25 \u2013 21 29 +8 \nBelgium 42 40 39 38 48 +10 \nBulgaria 62 51 \u2013 42 52 +10 \nDenmark 26 \u2013 \u2013 29 \u2013 \u2013 \nSpain 45 36 35 36 42 +6 \nFrance 35 31 31 29 37 +8 \nHungary 21 23 23 22 24 +2 \nItaly 49 64 46 38 46 +8 \nNorway 37 \u2013 \u2013 30 \u2013 \u2013 \nPoland 55 44 \u2013 38 48 +10 \nPortugal 33 31 33 34 36 +2 \nCzech Republic 60 49 39 40 50 +10 \nRomania 63 50 \u2013 42 59 +17 \nUnited Kingdom 32 34 27 35 41 +6 \nSlovakia 73 76 \u2013 72 83 +11 \nSweden 42 27 23 26 32 +6\n\nMain Lesson\n\nIn 2022, a majority of countries show a significant increase in the intention to increase expenses. The largest increases concern: \n\u2022 Romania (+17) \n\u2022 Slovakia (+11) \n\u2022 Belgium, Bulgaria, Poland, and the Czech Republic (+10)\n\nNo country shows a decrease. \n <\/span>\n <\/figure>\n <\/div>\n <\/div>\n<\/div>\n\n
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Spending intentions are up<\/h2>\n<\/div>\n\n
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Thus, spending intentions are back up to pre-pandemic levels, with an average of 41% across the countries covered by the survey. In every country, these intentions have either remained stable or increased. In some nations, the rise has been particularly sharp, not least in Eastern Europe, with Romania emerging as the starkest example of the phenomenon (+17 pts). Slovakia also stands apart, with 83% of respondents saying they intend to increase their spending.<\/p>\n<\/div>\n\n

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Western countries are slightly less enthusiastic in this regard, although the Belgians also appear much more inclined to step up their consumption (+10 pts). Nonetheless, most of the results are lower than those recorded for the 2019 Barometer, a sign that the crisis is still playing on the minds of consumers. Only Belgium and the United Kingdom post pronounced increases since the 2019 survey (+6 and +9 pts).<\/p>\n<\/div>\n\n

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\n Fig. 5 Evolution of the savings rate 2000-2020\n <\/p>\n \n \n Download this infographic for your presentations\n <\/a>\n <\/div>\n

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\n \"Curve\n \n The infographic presents the evolution of the savings rate of households in the euro zone, expressed as a percentage of gross disposable income, from 2000 to 2020.\nSource: Eurostat Note: 2020 corresponds to the third quarter.\nKey Visual Elements \u2022 Linear graph (vertical axis from 10% to 20%). \u2022 Horizontal axis covering each year from 2000 to 2020. \u2022 A single green curve representing the annual evolution of the savings rate. \u2022 The curve is relatively stable for 20 years, with a sharp increase in 2020.\nTranscription of Data (approximate, as some values are not explicitly written)\nThe exact values are not indicated on the curve, but the levels are readable visually:\nYear Savings Rate Approx. \n\n2000 ~12.5% \n2001 ~13% \n2002 ~13.5% \n2003 ~13.5% \n2004 ~13.5% \n2005 ~12.7% \n2006 ~12.5% \n2007 ~12.3% \n2008 ~13.8% \n2009 ~14.2% \n2010 ~13.2% \n2011 ~12.5% \n2012 ~12% \n2013 ~12.3% \n2014 ~12.5% \n2015 ~12.2% \n2016 ~12.3% \n2017 ~12.5% \n2018 ~12.8% \n2019 ~13% \n2020 ~19.5% \n(All values are approximate, as the graph does not precisely inscribe them. Mandatory RGAA mention: no data was invented.)\n\nMain Lesson\n\nOver 20 years, the savings rate of households in the euro zone is relatively stable, oscillating around 12-14%. In 2020, an unprecedented jump is observed, reaching nearly 20%, linked to exceptional conditions (not explicitly stated in the infographic).\n <\/span>\n <\/figure>\n <\/div>\n <\/div>\n<\/div>\n\n
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The desire to save remains strong<\/h2>\n<\/div>\n\n
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Conversely, intentions to save have remained stable over the last year, although in many cases they are now significantly greater than prior to the health crisis (+15 pts in France between the 2019 and 2022 Barometers) (Fig. 6 Barometer)<\/strong>.<\/p>\n<\/div>\n\n

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54% of Europeans intend to save more. A degree of anxiety and the need to prepare for potential future misfortunes are therefore ever-present in people\u2019s minds, especially at a time when good news follows bad news and vice versa, with there being no guarantee that the former will ultimately prevail over the latter.<\/p>\n<\/div>\n\n

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\n Fig. 6 Intention to increase savings in 2019-2022\n <\/p>\n \n \n Download this infographic for your presentations\n <\/a>\n <\/div>\n

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\n \"Percentage\n \n The infographic presents, in percentage, the share of people who answered “Yes” to the question: “In the next 12 months, do you think you will increase your savings?”\n\nThe data covers 2019, 2020, an intermediate measure in September 2020, 2021, and 2022, for 17 European countries.\n\nHeader: \u2022 Average of 15 countries in 2021: 54% \u2022 Average of 17 countries in 2022: 54% \u2022 Average evolution 2021-2022: 0 (stability)\n\nThe arrows are decorative.\n\nKey Visual Elements \u2022 List of countries with flags. \u2022 Values by year. \u2022 Variation 2021 \u2192 2022. \u2022 Horizontal bars representing percentages.\n\nTranscription of Data\n\nCountry 2019 2020 Sept. 2020 2021 2022 Var. 21-22 \nGermany 44 51 53 54 52 -2 \nAustria 52 57 \u2013 60 59 -1 \nBelgium 36 39 43 42 41 -1 \nBulgaria 53 56 \u2013 49 50 +1 \nDenmark 63 \u2013 \u2013 67 \u2013 \u2013 \nSpain 56 57 56 56 58 +2 \nFrance 29 35 43 40 44 +4 \nHungary 55 60 \u2013 57 56 -1 \nItaly 50 40 45 51 51 0 \nNorway 71 \u2013 \u2013 63 \u2013 \u2013 \nPoland 48 60 \u2013 57 56 -1 \nPortugal 64 60 62 59 59 0 \nCzech Republic 48 53 56 51 49 -2 \nRomania 58 69 \u2013 62 56 -6 \nUnited Kingdom 59 57 61 63 63 0 \nSlovakia 38 34 \u2013 30 26 -4 \nSweden 63 66 62 66 69 +3\n\nMain Lesson\n\nThe intention to increase savings remains stable between 2021 and 2022 (54% on average). Most countries record small variations. The main trends are:\n\nNotable increases: \u2022 France +4 \u2022 Spain +2 \u2022 Sweden +3 \u2022 Bulgaria +1\n\nNotable decreases: \u2022 Romania -6 \u2022 Slovakia -4 \u2022 Germany and the Czech Republic -2\nSeveral countries remain stable (Italy, Portugal, the United Kingdom).\n\n <\/span>\n <\/figure>\n <\/div>\n <\/div>\n<\/div>\n\n
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This apparent stability masks quite variable intentions from one country to the next. In four countries, France, Sweden, Spain and Bulgaria, respondents intend to save more (+4, +3, +2 and +1 pt, respectively). However, a larger proportion intend to save less, although the falls posted are moderate (the largest drop is -6 pts in Romania).<\/span><\/p>\n<\/div>\n\n

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Spending focused towards the home and beyond<\/h2>\n<\/div>\n\n
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So what do these intentions to spend more tell us? First and foremost, having been stuck within their borders, at best, and confined to their homes, at worst, frustrated Europeans are now determined to get out and about. Purchase intentions centred on travel and leisure have seen the strongest increase (+10 pts), reasserting their position at the top of the list, which had wavered last year. Marked increases in several other categories confirm the desire expressed by Europeans last year to prioritise their home, their comfort and the organisation of their living space, highlighting the pandemic\u2019s impact in prompting people to refocus on themselves and on their family.<\/p>\n<\/div>\n\n

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Indeed, home improvement \/ renovation, buying furniture and purchasing household appliances are up +3, +3 and +2 pts, respectively. In contrast, European consumers seem to have acquired all the electronic and leisure equipment they could need during the various lockdowns. Faster broadband, tablets and games consoles are down slightly, but smartphones and streaming subscriptions are up a fraction (Fig. 7 Barometer)<\/strong>.<\/p>\n<\/div>\n\n

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\n Fig. 7 Purchase intentions by product category\n <\/p>\n \n \n Download this infographic for your presentations\n <\/a>\n <\/div>\n

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\n \"Ranking\n \n The infographic presents, in percentage, the purchase intentions of different products and services over the next 12 months. It compares the current value to that of the previous year and indicates the evolution in points.\nSource: The Cetelem Observatory 2022. \n\nThe arrows indicating an increase or decrease are decorative.\nKey Visual Elements \u2022 A vertical list of product\/service categories. \u2022 A horizontal green bar representing the percentage of people interested in buying. \u2022 A column indicating the evolution in points compared to the previous year. \u2022 The products are ranked from most to least considered.\n\nTranscription of Data\n\nCategory % of Purchase Intention Evolution \nTravel or leisure 57% +10 \nHousehold Appliances 44% +2 \nSmartphone 39% +1 \nVideo streaming subscription 38% +1 \nFurniture 38% +3 \nRenovation or DIY work 37% +3 \nGardening or DIY equipment 32% +1 \nTV\/Hi-fi equipment 28% \nHome computer 25% \nFaster internet subscription 25% -1 \nTablet (iPad, Galaxy Tab, etc.) 23% -1 \nSports equipment (bike, rollers, etc.) 22% \u2013 \nNew car 21% \nBike 20% -1 \nGame console (PlayStation, Xbox, etc.) 20% -2 Used car 20% -1 \nReal estate 15% \nVideo\/photo equipment 15% \nMotorcycle\/scooter 10%\n\nMain Lesson\nThe strongest purchase intentions are for: \n\u2022 Travel and leisure (+10 points, first item at 57%) \n\u2022 Appliances (44%) \n\u2022 Smartphones and video subscriptions (\u2248 38-39%) \u2022 Furniture and renovation (significant increases)\nThe categories in decline or stability concern mainly: \u2022 Internet subscription, tablets, consoles, vehicles (new or used) \n\u2022 Motorcycle\/scooter (only product at 10%)\n\nOverall trend: return to pleasure and housing expenses, while technological equipment progresses slightly or stagnates.\n\n <\/span>\n <\/figure>\n <\/div>\n <\/div>\n<\/div>\n\n
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The desire to spend is being kept under control<\/h2>\n<\/div>\n\n
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Purchase intentions have therefore increased somewhat, but the desire to spend lags far behind, confirming that the time to celebrate and throw caution to the wind is not yet upon us. Compared with the previous Observatoire Cetelem Barometer, this desire has stabilised to some extent (+1 pt), but still fails to reach the level recorded before the health crisis (Fig. 8 and 9 Barometer)<\/strong>.<\/p>\n<\/div>\n\n

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Meanwhile, the previous geographical trend has been reversed, with the desire to spend falling in Eastern European countries, but rising in the West. The Poles post the biggest drop (-7 pts), while Austria, France and the UK are where the largest rises are recorded (+6, +5 and +5 pts, respectively). And although the score posted by the Italians has fallen significantly (-5 pts), their desire to spend more remains the second strongest in the survey, just behind the Bulgarians.<\/p>\n<\/div>\n\n

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\n Fig. 8 Perception of expenses in France and Europe\n <\/p>\n \n \n Download this infographic for your presentations\n <\/a>\n <\/div>\n

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\n \"Comparison\n \n The infographic compares the perception of personal expenses in France and in the rest of Europe. \n\nIt presents the share of respondents who declare:\n1.\t“My expenses are too high”\n2.\t“I manage my expenses well”\n3.\t“I could increase my expenses”\n\nThese data come from the Cetelem Observatory 2022.\n\nKey Visual Elements \u2022 Three groups of bars (France vs Europe). \u2022 Color code: \u2022 Yellow for France \u2022 Green for Europe \u2022 The bars indicate proportions in percentage. \u2022 The graph does not have a horizontal axis with numbers.\n\nTranscription of Data\n\nStatement France Europe “My expenses are too high” 70% 69% “I manage my expenses well” 56% 53% “I could increase my expenses” 28% 33%\n\nMain Lesson\nThe French are slightly more numerous than Europeans in managing their expenses (56% vs 53%). A very large majority, in both cases, thinks that their expenses are too high (\u2248 70%). Europeans are slightly more numerous than the French in considering that they could increase their expenses (33% vs 28%). \n <\/span>\n <\/figure>\n <\/div>\n <\/div>\n<\/div>\n\n
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\n Fig. 9 Evolution of perceived purchasing power over one year\n <\/p>\n \n \n Download this infographic for your presentations\n <\/a>\n <\/div>\n

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\n \"Distribution\n \n The infographic presents the perception of purchasing power of respondents over the last 12 months, in percentage. It is a distribution of responses in five categories ranging from “significantly increased” to “significantly decreased”.\n\nTwo synthetic indicators are displayed on the right: \u2022 Share of those who think their purchasing power has increased \u2022 Share of those who think it has decreased\nSource: Cetelem Observatory 2022. The arrows (increase\/decrease) are decorative.\nKey Visual Elements \u2022 Five horizontal bars representing percentages. \u2022 Two synthetic indicators on the right: \u2022 21% say their purchasing power has increased (+4 points) \u2022 34% say it has decreased (-3 points) \u2022 Uniform green bars, without differentiated code for categories.\n\nTranscription of Data\nDeclared Category Percentage \nSignificantly increased 5% \nRather increased 16% \nRemained stable 45% \nRather decreased 22% \nSignificantly decreased 12% \nSynthesis: \n\n\u2022 21% (+4) think their purchasing power has increased \n\u2022 34% (-3) think it has decreased\nMain Lesson\n\nAlmost half of the respondents (45%) think their purchasing power has remained stable. The proportion of people who think they have lost purchasing power (34%) remains higher than those who think they have gained (21%), but the gap is slightly reduced. The evolution thus shows a slight improvement in perception, even if the majority does not notice an increase.\n\n <\/span>\n <\/figure>\n <\/div>\n <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

The health crisis had led to a marked decline in people\u2019s desire to spend and a greater willingness to save, with the notion of precautionary saving being more relevant that ever before. The 2022 Observatoire Cetelem Barometer sees this trend reversed somewhat. However, the reversal is not complete, because while the desire to spend more […]<\/p>\n","protected":false},"author":1920,"featured_media":21077,"parent":21789,"menu_order":5,"comment_status":"closed","ping_status":"closed","template":"t-etude-chapitre.php","meta":{"_acf_changed":false,"footnotes":""},"tags":[],"class_list":["post-21804","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/pages\/21804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/users\/1920"}],"replies":[{"embeddable":true,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/comments?post=21804"}],"version-history":[{"count":4,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/pages\/21804\/revisions"}],"predecessor-version":[{"id":33429,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/pages\/21804\/revisions\/33429"}],"up":[{"embeddable":true,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/pages\/21789"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/media\/21077"}],"wp:attachment":[{"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/media?parent=21804"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/observatoirecetelem.com\/en\/wp-json\/wp\/v2\/tags?post=21804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}