July 19, 2024

Taylor Daily Press

Complete News World

Definitely cut back until summer and no longer averse to house brands (except for beer): this is how the Belgians view the crisis

Definitely cut back until summer and no longer averse to house brands (except for beer): this is how the Belgians view the crisis

purchasing power

Supermarkets have been reporting for some time that they are seeing an increase in private label sales. © Dieter Tillmans

Only one in eight Belgians think the inflation and energy crisis will end soon. There are huge discounts in the supermarket.

Robin Moygman

Half of Belgians are preparing for a protracted crisis. And they expect that the economic situation will not return to normal by the end of 2024. The share that actually expects the end of the crisis next summer is only 13 percent. This was stated in a study conducted by the communication agency BBDO Belgium. The agency asked questions about the purchasing power of 1,000 Belgians, who together serve as a model for Belgian society.

Gloomy expectations are reflected in consumer behaviour. Six out of ten Belgians have started buying more household brands rather than A-brand products because of inflation. The popularity of private labels has already been indicated by the supermarket chains themselves. They encourage this phenomenon by focusing their advertisements on low-priced products. This is happening now, too, in the run-up to the Christmas period. In the past month alone, Delhaize noted that sales of low-priced products promoted as “little lions” have increased 15 percent.

Read also. Delhaize Cuts Prices on 500 Private Label Essentials: “To Support Buying Power”

Brand beer is still popular

A BBDO survey showed that private label brands are the most popular for dairy products such as milk and yogurt. Chosen by two-thirds of consumers. Then comes pasta, water, crackers and cheese. When buying laundry products, soft drinks and chocolate, brand A is often chosen.

See also  Twitter workers are not allowed to talk about the deal, but Elon Musk tweets a meme about the disaster | News

Beer is the product for which house brands are less known. In this case, only 7 percent of consumers choose private label. Of those surveyed, 90 percent said they would not return to the A brand for at least one class, even after the period of high inflation is over. Half of consumers say they will spend less money on food at the end of next year.

Not everyone is equally affected by the effect of inflation on purchasing power. This is confirmed by the results of the BBDO survey. Women, those with low or moderate incomes, and the elderly say they are being hit the most. In Wallonia, many people feel a more intense influence than in Flanders. Only 5 percent of Belgians feel little or no impact.