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*: Beijing Business Daily.
On the occasion of the festival, the main commercial streets and central squares of European countries are decorated and decorated with new decorations. However, due to inflationary pressures and bleak economic development prospects, the shopping season in Europe this year is "chilling", and people are generally cautious about consumption.
At the bazaar in the center of Mostar in southern Bosnia and Herzegovina, decorations and pops set off the festive atmosphere. "Prices are really high right now, especially for food and other expenses, which makes us feel stressed. Vania Milovich, who was visiting the market with her family, admitted that it was too expensive to travel and that it was better to spend the holidays at home with her family.
In a century-old copper jewelry shop next to the Old Bridge in Mostar, the old shopkeeper is making handmade copper plate souvenirs. The clerk said that although there are more tourists during the holiday than in winter, not many people actually pay for souvenirs. "Since the outbreak of the new crown epidemic and the Russia-Ukraine conflict, the economy has been very sluggish, and we do not have high hopes for the future. ”
Petra Johnson, who was shopping with her daughter on the bustling main street of Stockholm, the capital of Sweden, told reporters: "We won't buy as many gifts as in previous years, and the cost may be reduced by about 30 percent." ”
I didn't have any special holiday plans and spent it in Zagreb with my family. The cost of living** is putting a lot of pressure on us and we are worried about prices. Bořica Košczak, a citizen of Zagreb, the capital of Croatia, told reporters with a helpless face.
British families are also clutching their "money bags". According to a survey by the Office for National Statistics, 46% of respondents said they would spend less on food or gifts. Paul Martin, Head of Retail Owner, KPMG UK, said retailers would have to run long-term and targeted discounts with slow sales growth during this year's holiday shopping season and the cost-of-living crisis affecting many households' holiday spending.
Although the recent decline in energy** and the lower inflation rate in Europe have come, food** is still at a high level. Eurostat data showed that inflation in the eurozone fell to 24%, but the increase in food, tobacco and alcohol** remained high. The European Central Bank recently predicted that the inflation rate in the euro area in 2023 will be 54%。
According to Dutch News**nuAccording to a survey report released by NL a few days ago, Dutch holiday-related goods are significantly more obvious than the same period last year, with garlands and canned stews*** about 14%, and bottled red wine** about 31% on average. One reader commented that he used to be able to shop at the supermarket as he pleased, but now he has to turn on the "survival mode", not only buying necessities, but also always looking for discounted goods.
In Germany, compiling "money-saving tips" for readers has become an important task for many people. According to a recent report by the German market research institute GfK, three-quarters of low-income German households intend to save on food. According to a recent report by the Federation of German Consumer Organizations, German food** in November 2023 increased by nearly 30% compared to June 2021, with almost every food category** being significantly affected, which has a wide impact on people's lives and is "particularly worrying".
According to the results of the survey on personal consumption trends released by the German Retail Federation, nearly 60% of retail companies are not satisfied with the recent sales situation. According to more than 350 companies that participated in the survey, the number of customers visiting their stores has decreased compared to last year, and the popularity of second-hand gifts, including holiday decorations, has increased, reflecting the fact that people are becoming more economical.
At the same time that people are cutting back on spending, there is also great uncertainty about the economic development prospects of European countries. The European Commission released its Autumn 2023 Economic Outlook report in November, lowering the economic growth forecast for the EU and the eurozone this year and next, ** GDP growth rates in both the EU and the eurozone in 2023 will be 06%, the EU economy will grow by 1 in 20243%, and the eurozone grew by 12%。
As Europe's largest economy, the German economy is currently in a state of almost stagnation. The German Federal Ministry for Economic Affairs and Climate Protection previously said that the country's economy would shrink by 04%, an increase of 1 next year3%。Horst Lecher, a professor at the Frankfurt School of Finance and Management in Germany, told reporters that high inflation and uncertainty about the future are affecting households' willingness to spend, and Germany is likely not to see significant economic growth next year.
Croatian economist Zelico Hodoni is equally pessimistic. He told reporters that the European economy is in a serious crisis, especially in Germany and Italy. Croatia mainly does business with these countries, and it is unlikely that European economies, including Croatia, will recover significantly next year.
Another survey released by the European Central Bank showed that eurozone consumers have raised their inflation expectations for the next 12 months to 4%, up from 35%, the highest level since this spring, could be a headache for the ECB in controlling pricesIt also indicates that European consumers are less optimistic about future consumption, and the continued price of goods will make consumers further reduce their spending and downgrade consumption.
According to Xinhua News Agency.