TGM Consumer Sentiment Survey in the Czech Republic 2024

Rising Prices (45%): With inflationary pressures still looming, consumers are keenly observing the cost of living and its impact on their budgets.

Job Security/ Unemployment (17%): Concerns regarding job stability and unemployment rates are weighing heavily on consumers' minds, influencing their spending habits and overall financial decisions.

Wars in the World (16%): Heightened geopolitical tensions and conflicts around the world are contributing to consumer unease, affecting their confidence in economic stability and future prospects.

TGM Consumer Sentiment in the Czech Republic 2024 report highlights a prevailing sense of pessimism among the Czechs when assessing the political and economic ramifications associated with ongoing conflicts.

As the global landscape undergoes dynamic shifts in socio-economic paradigms this year, the ripple effect on consumer behavior within the Czech Republic is poised to persist. Our report highlights:

Reducing Future Purchases (44%): Nearly half of respondents plan to curtail their future purchases on personal items, particularly in the Jewelry/ Accessories category.

Embracing "Buy Now, Pay Later" (10%): A small portion of consumers plan to leverage "buy now, pay later" services, showcasing a slow shift towards more adaptable payment options.

Exploring Private-Label Brands: A significant chunk of respondents plans to experiment with private-label brands for groceries and essentials, indicating a departure from brand loyalty and a shift towards value-based decision-making.