Enrico Valdani, a researcher for Cermes, the marketing and services research center of the Bocconi University in Milan, conducted a study on the consumption habits of a sample of 2.000 Italians. Only 8% of those said they hadn't cut back on purchases from 2011 to last year. All the others continued to save on all items of the family budget, clothing and holidays on all.
In fact, clothing fell by 60%, while the travel and vacation category suffered a contraction of 53%. The figures for the other decreases are as follows: furniture -42%, beauty and fitness -42%, hobbies, sports and free time -40%. Relatively smaller losses are suffered by internet and telecommunications, health, insurance, food and beverage with declines between 14 and 18%. Even the computer and electronics item, up to now in good health, has been downsized by 34% of Italians.
"The research shows an aware, active consumer who reacts to the macroeconomic deterioration by looking for original solutions, ranging from the exploration of new distribution channels, to spasmodic attention for promotions, to deepening his knowledge of the internet", says Valdani .
There is also space in the report for a forecast for the current year. The gap between the reduction of GDP and consumption should continue to decrease, confirming the trend of the period 2011-2013, remaining however around 0,2. Given, this, which denounces how consumers' choices are reluctant to immediately acknowledge the positive signs of the economy. In fact, in 2012, GDP recorded a contraction of 2,4% while consumption fell by as much as 4,5%. The following year, GDP fell by 1,9% and consumption by 2,6%, reducing the gap but reaffirming the dynamics of a hyper-reactive consumer.
