Study: 72% of Romanians are concerned about rising prices and most of them will allocate a smaller budget when shopping for holidays

The 2024 Holiday Shopping Report was conducted online in September and October 2024 via the apps owned by ShopFully and Offerista, targeting consumers over 18 years of age across eight European markets (Austria, Bulgaria, Germany, France, Hungary, Italy, Romania, and Spain). The study gathered data from a nationally representative sample for each country.   The report highlights how European consumers are managing their spending decisions this year and reveals a landscape shaped by economic pressures, strategic budgeting, and evolving shopping preferences. It provides essential insights for brands and retailers aiming to connect effectively with consumers. Romanians, like other Europeans, are concerned about financial aspects, especially in the context of the holiday season.   This year’s holidays across Europe are influenced by consumers’ economic concerns, which are directly impacting how they plan their year-end spending. Most people report intending to significantly reduce their budget for certain shopping categories. Inflation is a major concern throughout Europe, with France reporting the highest level of worry (85%), followed closely by Spain (76%) and Italy (73%). Rising costs, energy prices, and personal financial pressures are prompting shoppers to focus on essential expenses, particularly food and beverages.   Romanian consumers reported similar concerns regarding this holiday season, with 72% of respondents stating that their primary worry is rising prices and inflation, followed by energy and gas price increases at 56%. Health ranks third with 39%, closely followed by concerns over their personal financial situation at 35%.   Amid financial concerns, many are focusing their holiday budgets on essential items, while reducing discretionary spending. Over 90% of Romanians reported plans to limit spending in categories such as appliances (56%), clothing (54%), furniture (54%), dining out (51%), and travel (48%). Additionally, more than a third of Romanians (37%) plan to start their holiday shopping earlier this year. The primary reason for this approach is to spread out expenses (46%), followed closely by the desire for more time to plan purchases (40%), and thirdly, to avoid last-minute stress (35%).   The economic situation is strongly impacting Romanians in 2024, with 11% stating that they do not intend to do any Christmas shopping this year due to reduced purchasing power.   Digital media is the primary channel for information on promotions; however, Romanians predominantly do their shopping in physical stores.   Across Europe, and Romania is no exception, consumers are increasingly turning to digital sources for information on promotions and offers, with digital media being used nearly twice as much as traditional media.   To gather information about Christmas offers, Romanian consumers prefer to check the official websites of stores/brands (53%), followed by social media (33%), and only then TV (28%) and newspapers (21%).   At the same time, when it comes to finding inspiration for holiday shopping, local stores lead Romanians’ preferences (43%), closely followed by social media channels at 38%, with TV coming in third place at 30%.   Romanians prefer to see and test what they buy, so, even for holiday shopping, the majority (59%) will make their purchases in physical stores. Just over a third (34%) said they will shop both in stores and online, while only 7% will shop exclusively online.   “This combined reliance on digital searching and a hybrid shopping approach reflects how European consumers navigate in search of value. Hybrid purchasing is clearly on the rise in Romania, but the trend of gathering information from digital sources is strong, showing that, although Romanian consumers still prefer to see the product before purchasing, the process of selecting and preparing the shopping list is predominantly (and increasingly) done online. This makes it essential for retailers and brands to present their offers effectively in the digital space and choose the right methods to ensure they reach consumers in relevant contexts” stated Catalin Patachia, Country Manager Offerista Romania   In response to inflation, many European consumers are adopting a proactive and strategic approach to holiday shopping, taking advantage of offers and promotions to optimize their budgets.   Romanians are no exception, and when it comes to Christmas gifts, the most important factors for them are value for money (36%), promotions (28%), and the variety of offers that allow them to purchase everything in one place (13%). This year, due to the economic situation, nearly two-thirds of Romanian consumers will allocate the same budget for holiday shopping as in 2023 (65.13%), while almost 20% will allocate a smaller total budget.   The smaller holiday budget will mean that consumers plan to spend less on each gift (35%), choose entirely different products at lower prices (29%), or opt for cheaper alternatives of the same products (20%). For brands, this will create even greater pressure to effectively reach consumers with their offers and convince them to make purchases.   “In the context of a hybrid shopping approach and the priority of prices to cope with economic pressures, the key to successful holiday campaigns will be relevance and the efficient connection of brands with consumers. A full-funnel approach, covering the entire season and creating momentum toward key shopping weeks, executed across multiple relevant channels, can make the difference between a promotion that stands out, convinces, and converts, and one that gets lost in the abundance of offers and communications. This year’s reduced consumer budgets place even greater pressure on brands and retailers to communicate on the channels where consumers are looking for offers” added Catalin Patachia, Country Manager Offerista Romania   In absolute terms, nearly 40% of Romanian consumers intend to spend between 500-1,000 RON on Christmas shopping, 24% have a total budget of under 500 RON, while 22% will spend between 1,000-2,000 RON this holiday season.   The main categories of purchases that Romanians are considering for the holidays are food and beverages (52%), decorations and other home products (42%), clothing, shoes, accessories, and sports items (31%), cosmetics and perfumes (24%), and toys (20%).