Croix, February 8, 2024 – Oney, the European bank specializing in consumer payment and financing, and the CSA Institute, have published the results of a flash survey on French purchasing behavior in 2024. Although the trend has improved slightly compared with previous surveys on the subject, the survey reveals that the French still feel obliged to restrict and adapt their daily spending in order to continue to indulge themselves.

In 2024, 70% of French people plan to continue cutting back on spending

In the coming months, their spending will be marked by prudence and restrictions: a constraint shared by a large proportion of the population, even if the trend is for a slight improvement (70% for 2024, compared to 75-80% in the summer of 2023), which will even lead almost one French person in three (30%) to cut back on certain essential expenditure items in order to be able to cover other leisure or equipment expenses for themselves or their loved ones.

A situation that concerns many French people, whatever their age or profession, but which particularly affects those of modest means. On the other hand, managers and professionals are a little more carefree, with 60% planning to restrict their spending in 2024, compared to 80% of those in lower income brackets. This insouciance is also present among younger people: 17% of 18-24 year-olds have no intention of depriving themselves (versus 7% of the population as a whole), as do older people and retirees.

Inflation in the prices of goods and services, and rising energy costs remain the main concerns of the French for their purchasing power in 2024

For most French people, rising prices are a major concern, having a direct impact on their wallets and purchasing habits, whether it’s inflation in the price of goods and services (mentioned by nearly three-quarters of French people (74%)) or energy prices (66%).

Young people, for their part, are marked by pessimism about their professional and personal future. In detail, 35% anticipate a more complicated professional situation in 2024, and 33% a change in their personal life that could impact their purchasing power.

Food, a constrained item of expenditure, but also synonymous with a pleasurable purchase for 62% of French people

A majority (62%) say they are looking forward to indulging in food. 54% of French people expect to enjoy leisure and cultural activities.

For the rest, it’s a time of restraint: only a minority of French people are planning “pleasure purchases” on clothing (39%), home decoration or equipment (35%) or high-tech products (25%).

However, on these more ancillary types of expenditure, younger people are more willing to take advantage: between 41% and 49% of the under-35s intend to treat themselves to clothing, home decoration and equipment, or tech.

Sales, the high point for “pleasure shopping”.

2024 confirms a trend that began in 2023. Consumers prefer promotional periods, and use them to anticipate their purchases (Christmas, etc.) in order to better control their budget. And in this context, a very large majority of the population favors promotions when they treat themselves: 58% do so most of the time, and more than a quarter of the French (27%) only consider this epicureanism if they can take advantage of promotions.

In the end, only a small proportion of the population (15%) spends most of the time without trying to reduce the bill. These trends are confirmed by the results recorded by Oney Bank for fractional payments during the 2024 winter sales, with a 15% increase in the average basket (to 392 euros) compared to the 2023 winter sales. Its use during the sales confirms the use of this type of consumer financing solution for large amounts. The most popular sectors for financing purchases are aeronautics, high tech/computing, telephony and sports equipment.

BPCE L’Observatoire’s recent Digital & Payments Barometer on the 2024 Winter Sales, published on February 6, also confirms this use of promotions, with the number of transactions up +5% on the 2023 Winter Sales. Cultural goods (video games, toys and board games) and ready-to-wear have done particularly well, proving that this commercial high point is an opportunity fully seized by the French to make savings in this delicate period for their purchasing power.

Fractional payments, the most popular budget management tool in France

Apart from promotions, other tools are being considered by the French to optimize their budget management at a time when their purchasing power is under pressure. First and foremost among these is fractional payment, which appeals to more than a third of the French: 36% plan to use this tool in the coming year for certain purchases. This is currently the most attractive credit solution. In comparison, 20% of French people plan to use deferred payment, 14% a personal loan and only 11% a revolving credit.

On behalf of Oney, the CSA Institute conducted an online survey from January 30 to February 1, 2024 among 1010 French people representative of the population aged 18 and over.

Oney is a different, unique bank, born of commerce. A partner in the transformation of commerce for 40 years, Oney designs innovative payment, financing and insurance solutions. The creator of fractional payments, Oney is now a major player in the fractional payment and consumer finance market in Europe, offering a simple, fast, fluid and secure digital purchasing experience. Working alongside 6,500 merchant and e-merchant partners in nearly 17,000 physical and virtual points of sale, Oney supports the projects of over 7.2 million customers in Europe. Every day, their 2,100 talents in Europe mobilize their expertise to give everyone the power to improve their daily lives and consume better.

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Oney – Frédéric Tancrez: / +33 (0)7 60 88 55 03

Havas Paris – / Pierre Dupé : +33 (0) 6 38 21 92 55