Amidst soaring prices, French consumers are tightening their belts when it comes to essential household items. Recent data reveals a significant decline in the purchase of personal hygiene and household products, reflecting the financial strain faced by many households across the country.
According to Reuters, the rising cost of living in France has forced consumers to reconsider their spending habits. As a result, items that were once considered staples are being purchased less frequently.
French shoppers are grappling with the economic impact of inflation, which has driven up the prices of everyday products. Tampons, a necessity for many women, have seen a decline in sales as the price tags become increasingly burdensome. Similarly, detergent purchases have also dwindled, with consumers opting for more affordable alternatives or reducing their overall consumption.
The information, gathered by NielsenIQ, indicates a notable drop in sales volumes across various product categories, including shower gel, tampons, dishwashing items, laundry detergent, and toilet paper, for the year ending on September 17th. Supermarket prices for these items have shown a significant increase in comparison to the same period last year.
Anton Delbarre, the chief economist at the retail trade organization Eurocommerce, commented on this trend, saying, “When there are good alternatives offered by private labels, consumers tend to shift their preferences towards these private label products. Additionally, some individuals are reducing their consumption habits, such as showering less frequently, cleaning their homes less often, or using smaller quantities of detergent in their dishwashers and washing machines.”
It is important to understand the economic implications of rising prices. As consumers cut back on essential items, it can lead to a ripple effect throughout the economy, affecting both manufacturers and retailers. It’s a phenomenon that policymakers and economists are closely monitoring.
President Emmanuel Macron’s government is due to address grocery inflation in its budget with legislation to bring forward annual negotiations between food producers and supermarkets. It hopes price cuts can then take effect on January 15 rather than March 1, as usual.
