TGM Consumer Sentiment Survey in Italy 2024

Rising Prices (37%): With inflationary pressures still looming, consumers are keenly observing the cost of living and its impact on their budgets.

Wars in the World (29%): 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 Italy 2024 report highlights a prevailing sense of pessimism among Italians when assessing the political and economic ramifications associated with ongoing conflicts.

Job Security/ Unemployment (16%): Concerns regarding job stability and unemployment rates are weighing heavily on consumers' minds, influencing their spending habits and overall financial decisions.

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

Reducing Future Purchases (56%): More than half of respondents plan to curtail their future purchases on personal items, particularly in the Jewelry/ Accessories category.

Adopting E-Commerce (49% aged 18-44): A significant chunk of consumers plan to switch from brick-and-mortar store to online when buying groceries and essentials, indicating a growing trend towards digitalization in consumer purchasing habits.

Experimenting With Apps (36% aged 45-59): A sizeable portion of respondents plan to try a new digital shopping method such as ordering groceries on an app over the next three months, reflecting a shift towards embracing technology for convenience in shopping.

Embracing "Buy Now, Pay Later" (26%): A quarter of consumers plan to leverage "buy now, pay later" services, showcasing a shift towards more adaptable payment options.