Consumer demand is back! CPS GfK experts explain what has changed in consumer behaviour

The FMCG market has had a serious problem for a long time, which is the decline in consumption but the first half of 2024 has been much better for the industry. Is demand coming back? What changed and why did the consumer finally start buying more?

The positive mood of Poles in the context of thinking about the future, their own finances and what the global and domestic economy will bring are the most important factors responsible for the increase in consumption. Since January 2024, these sentiments have improved significantly and are currently at the level of 3.5 on the scale set by CPS GfK. In comparison, the average in the European Union is -12.9.

Polish consumers are most concerned about their own and their family’s safety. This concern is shared by 43 % of surveyed households, which marks a change compared to the end of 2023, because then the most important concern was the family budget (53%, but now only 40%).

The third most important concern of consumers is the quality of the food they eat and whether they take care of their body. “It’s not about going from white to black, e.g. giving up sugar in one day. It’s about changes that make you feel that you don’t have to give up on certain qualities of the product, e.g. taste, but choose items that have less fat and less sugar, thanks to which you can control your calorie intake.”

Fewer and fewer consumers look anxiously at prices on store shelves. In Spring 2024, 30 % of respondents voiced pricing concerns, which is an improvement compared to spring 2023, when it was 39% (and 55% at its recent peak in Spring 2022).

Currently 37 % of households estimate that they are barely able to meet their financial needs, a 6% improvement, while a similar proportion assessing their finances as comfortable has increased.

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