Oney, a European bank specialising in consumer finance that has been partnering retailers for more than 40 years, has revealed the results of a new survey, conducted with the CSA market research institute, on French consumers’ purchasing behaviour between now and the end of the year. The survey confirms that consumers are being cautious with their spending and reveals that many are choosing to limit or defer certain purchases due to the current political situation in France.
Political environment: caution is the watchword for many consumers
Political events in France are having a significant influence on consumers’ attitude towards spending. Nearly 1 in 2 French consumers (44%) said that the political environment was influencing their consumption.
1 in 3 consumers (32%) said they had put off certain purchases until they have a clearer picture of how future measures might impact their purchasing power. This climate of uncertainty is making consumers more cautious, particularly pensioners (45%) and households in the lowest income brackets (40% of French consumers are on €1,750 a month or less).
Drastic budgeting approaches in the run up to the end of the year, with less spending and more bargain-hunting
Although the summer sales were affected by adverse weather and the political uncertainty, French consumers remain on the look-out for bargains. Nearly 32% of those surveyed said they intended to avail of promotional deals offered by retailers for certain purchases. This is the consumer tactic that has registered the strongest increase since March 2024 (+5 points).
To keep control of their budget, more consumers said they were planning to cut their spending: 42% (+3 points compared with March 2024).
French consumers will continue to look carefully at the price of goods and services, by comparing before they buy (39%), although the survey shows a decrease in the percentage of respondents intending to use this tactic by comparison with the first half of the year (-3 points).
Lastly, the economic context is altering the frequency and the moment at which consumers intend to make purchases. 36% said they would be doing some of their Christmas shopping early this year to take advantage of lower prices. This confirms a trend that many retailers have been observing over the past two years.
Split payment stands out as a helpful budgeting tool for French consumers
Alongside these budgeting tactics, split payment solutions have become essential aids for consumers. 39% of respondents said they had already used split payment in the last 12 months and 44% said they were considering using it in the coming months.
Consumer spending will focus on leisure, travel and well-being in the second half
While 48% of respondents said that clothing, shoes and accessories were their priority spending items (excluding necessary purchases), the survey confirms a particular interest in three categories for the second half of this year:
- leisure and cultural goods (47%),
- well-being, hygiene and cosmetics products (42%),
- and travel (38%).
The 2024 Paris Olympic Games: a trigger for spending?
The Paris Olympic and Paralympic Games were followed enthusiastically by the French population over the summer and this has filtered through to consumer spending on sports-related goods and services, to varying degrees depending on age and income bracket.
65% of respondents aged 25 to 34 said that the Paris Games would prompt them to make sports-related purchases by the end of the year. For the population as a whole, 26% of respondents said the Olympics would have an influence on their purchases. 42% of households in the lowest income brackets said the Paris Games would incite them to make a purchase.Oney, a European bank specialising in consumer finance that has been partnering retailers for more than 40 years, has revealed the results of a new survey, conducted with the CSA market research institute, on French consumers’ purchasing behaviour between now and the end of the year. The survey confirms that consumers are being cautious with their spending and reveals that many are choosing to limit or defer certain purchases due to the current political situation in France.
Political environment: caution is the watchword for many consumers
Political events in France are having a significant influence on consumers’ attitude towards spending. Nearly 1 in 2 French consumers (44%) said that the political environment was influencing their consumption.
1 in 3 consumers (32%) said they had put off certain purchases until they have a clearer picture of how future measures might impact their purchasing power. This climate of uncertainty is making consumers more cautious, particularly pensioners (45%) and households in the lowest income brackets (40% of French consumers are on €1,750 a month or less).
Drastic budgeting approaches in the run up to the end of the year, with less spending and more bargain-hunting
Although the summer sales were affected by adverse weather and the political uncertainty, French consumers remain on the look-out for bargains. Nearly 32% of those surveyed said they intended to avail of promotional deals offered by retailers for certain purchases. This is the consumer tactic that has registered the strongest increase since March 2024 (+5 points).
To keep control of their budget, more consumers said they were planning to cut their spending: 42% (+3 points compared with March 2024).
French consumers will continue to look carefully at the price of goods and services, by comparing before they buy (39%), although the survey shows a decrease in the percentage of respondents intending to use this tactic by comparison with the first half of the year (-3 points).
Lastly, the economic context is altering the frequency and the moment at which consumers intend to make purchases. 36% said they would be doing some of their Christmas shopping early this year to take advantage of lower prices. This confirms a trend that many retailers have been observing over the past two years.
Split payment stands out as a helpful budgeting tool for French consumers
Alongside these budgeting tactics, split payment solutions have become essential aids for consumers. 39% of respondents said they had already used split payment in the last 12 months and 44% said they were considering using it in the coming months.
Consumer spending will focus on leisure, travel and well-being in the second half
While 48% of respondents said that clothing, shoes and accessories were their priority spending items (excluding necessary purchases), the survey confirms a particular interest in three categories for the second half of this year:
- leisure and cultural goods (47%),
- well-being, hygiene and cosmetics products (42%),
- and travel (38%).
The 2024 Paris Olympic Games: a trigger for spending?
The Paris Olympic and Paralympic Games were followed enthusiastically by the French population over the summer and this has filtered through to consumer spending on sports-related goods and services, to varying degrees depending on age and income bracket.
65% of respondents aged 25 to 34 said that the Paris Games would prompt them to make sports-related purchases by the end of the year. For the population as a whole, 26% of respondents said the Olympics would have an influence on their purchases. 42% of households in the lowest income brackets said the Paris Games would incite them to make a purchase.
| Methodology Online survey conducted by CSA for Oney between 27 and 29 August 2024, across 1,008 French consumers representing the population aged 18 and over. |