Changing Consumer Habits in Hungary

As a result of the coronavirus epidemic, consumer habits have changed and the composition of the consumer basket has also changed, according to a new survey.

A research conducted by Mónika Garai-Fodor, Dean of the Károly Keleti Faculty of Economics at the University of Óbuda and Ágnes Csiszárik-Kocsir, Deputy Dean for Research shows that the biggest loser in the virus situation is the service sector; there was no type of service for which there was no decline in usage.

Visits to larger clothing stores, smaller grocery stores, and large shopping malls and restaurants decreased the most as a result of the epidemic.

According to the results of the research, the proportion of durable foods and health-preserving products in the consumer basket of the respondents increased the most due to the coronavirus epidemic.

The shopping activity of each generation differs significantly, the researchers pointed out.

The strongest consumer activity was shown by Generation Z at the time of the epidemic, with members of the 18-25 age group coming from large shopping malls, smaller grocery stores and especially the majority of restaurant visitors at the time of the virus, they explained. In the categories of clothing and durable goods, as well as culture and entertainment, members of Generation Y (26-35 years) represented the largest consumer base. In the case of medicines, the consumption of older respondents aged 56-65 was higher than the sample average, they added.

Based on the results, the main customer base in the service sector became Generation X (36-45 years) at the time of the epidemic. Members of this age group showed the greatest purchasing power, both in the case of beauty services, travel agencies, insurance companies, confectioneries and technical shops, they indicated.

The researchers processed 6,804 questionnaires, and the survey was conducted online.