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Trade : Study: Romanians cut expenses for clothes and holidays but would not give up cigarettes and alcohol
The Romanians are willing to cut expenses for clothes, electronics and household appliances and holidays, but would not give up alcohol, cigarettes, fruit and vegetables, according to a 360insights study, which analyzed the Romanians’ perception of the crisis. As for alcohol and cigarettes, Romanians are less willing than in 2010 to cut expenses. While two years ago 4 out of 10 Romanians were ready to reduce their budget for cigarettes and alcoholic beverages, in 2012 less than 3 out of 10 have this intention, most of them being ready to maintain consumption.
Child care, utilities and expenses with fruit and vegetables, bottled water or dairy products are categories the Romanians do not intend to scrap from expenses. A similar trend can be seen in the case of pharmaceutical products.
The 360insights study also showed that in general, adjusting budgets allocated for various categories of goods is not made by giving up the category for good, but by reducing quantities or consumption frequency. For certain categories there is the solution of lower prices by following promotions or selecting cheaper products or brands than the ones frequently bought.
The categories for which the Romanians are more open for promotions or cheaper brands are electronic products and household appliances as well as clothing accessories. As for holidays the Romanians choose options more accessible than last year.“In conclusion, after three years of recession, the financial crisis has become a constant in the Romanians’ lives, affecting each aspect of everyday life to some extent. Romanians are attentive to expenses, their budget being “frozen”, 360insights shows.
The study was made based on data collected in March by phone interviews over 800 persons aged between 16 and 64.