The impact of changes in consumption patterns in the post-pandemic period in Hungary

Abstract

AbstractThe study investigates the impact of negative economic changes on Hungarian consumption habits on a representative sample of 1,000 people during the post-COVID period, which we interpreted as the period after December 2021. The quantitative research shows that a significant part of the population was affected by the unexpected effects of the economic environment. The change in purchasing habits was driven by the search for promotions and value for money products. Regarding the place of purchase, the research showed that the share of online shoppers did not increase for the 12 product categories surveyed, while the role of discounters in offline purchases increased. The survey highlighted that a third of the population cannot afford to make large purchases, while at the same time avoiding loans. Two-thirds of the population's view of the future is quite pessimistic. In consumption attitudes, the first priority is the aforementioned “discounting”, while the second priority is saving money on packaging. Hungarians tend to save more on electricity and heating. Finally, the result of our cluster analysis is that we have been able to distinguish five consumer groups that are able to describe the main consumer attitudes in the post-Covid crisis period. The defined clusters are the following: Resistant, Bargain hunter, Conscious, Rationing and What you can afford is what you can get.