Society & Lifestyle

People in countries affected by COVID-19 the most will cut spending

The COVID-19 pandemic has drastically changed the way Europeans shop online and offline


People in countries affected by COVID-19 the most will cut spending. Source:

Four in ten consumers in Europe have experienced a drop in their household income due to the COVID-19 pandemic, Ecommerce News reports.

This has led to 38% planning to reduce their spending over the next months.

It’s mostly consumers in countries that have been affected the most by the pandemic who are determined to spend less. The share of people planning to decrease their spending is 56% in Spain, 43% in the UK, and 42% in Italy.

The research reveals that food retailers have benefited from the coronacrisis, while omnichannel non-food retailers are just starting to recover.

During the lockdown, 28% of Europeans living in urban areas used online shopping as the main channel for buying groceries. That’s an increase of 10% compared to before the pandemic.

At the same time, 52% of German online grocery shoppers bought more during the lockdown, while 70% of French, Spanish, and Italian consumers did so.

We’ve reported that 71% of global consumers are feeling comfortable returning to physical stores as local lockdowns have eased.


Pay Space

6887 Posts 0 Comments

Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.