About a third of Portuguese (31%) "expects a drop in income in the next six months", with 74% admitting spending cuts at Christmas, according to a study by Oney Bank.
The study, carried out by OpinionWay in Portugal, Spain, France, Italy and Germany concluded that "one in four European consumers believes that the public health crisis will affect their income".
In the case of Portugal, around 31% of respondents "expect a decrease in income in the next six months", with 14% of Portuguese respondents over 35 years old showing themselves "more optimistic than the rest", with the expectation of "may their income increase before the end of 2020".
«In the case of non-essential goods, if incomes decrease in the next six months, 74% of Portuguese say that the first expense to be cut will be in the budget for the Christmas season, followed by electronic products (71%) and furniture expenses. or decoration (70%)”, according to the same study.
Due to the crisis, 54% of Portuguese consumers «have no intention of increasing their spending», the document reads.
When choosing products, «the price remains the determining factor», and «of the total number of respondents in Portugal, for 80% the price is the most important» and «82% of the total number of Portuguese respondents to the survey are willing to privilege the criterion local/national production, in food-related expenses'.
Among respondents, one in three “want to resort to financing solutions more often”, with split payment being “the most popular option, before deferred payment”.
At the same time, «31% of Portuguese say they intend to use this solution in the next six months and 24% prefer deferred payment».
The study also analyzed the evolution of purchases online, being that «the Spaniards (67%), the Italians (66%) and the Portuguese (62%) revealed to be the biggest online buyers».
On the other hand, in the last six months in Portugal, «57% used the mobile application more frequently to maintain contact with their bank and 77% of respondents expressed interest in maintaining remote contact with their banking institution via email».
This study was carried out through an online questionnaire with consumers aged 18 and over in Portugal, France, Spain, Germany and Italy. By country, around 1000 people were surveyed between the 22nd and 30th of June 2020.
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