A recent study by a supermarket chain reveals that while Baltic shoppers are generally looking for savings and bargains, especially when it comes to food, Lithuanians are particularly focused on the composition of their products, which is a sign of a growing interest in healthier diets and higher quality products. According to Vaidas Lukoševičius, CEO of the supermarket chain, all shoppers give priority to discounts.

Lithuanians save most consistently

According to the market research company „Norstat“, the vast majority of the population in the Baltic States is trying to cut costs and save money every day. More than half of the respondents (51% in Latvia, 54% in Estonia, 55% in Lithuania) are constantly looking for ways to save money, but the share of savers in Latvia and Estonia has dropped significantly compared to the previous survey.

The categories of food products for which savings are made are similar in all three countries, but the product positions differ. The most common items to reduce spending are sweets and snacks (42% in Lithuania, 44% in Latvia, 45% in Estonia), delicatessen (31% in Lithuania, 37% in Latvia, 42% in Estonia), culinary products (29% in Lithuania, 32% in Latvia, 41% in Estonia) and confectionery (28% in Lithuania, 29% in Latvia, 29% in Estonia). Slightly lower savings are made on juices, other non-alcoholic beverages, meat and meat products.

According to the supermarket manager, although food is a basic necessity, shoppers are looking for ways to save money every day: "Shoppers are very interested in promotions and discounts, and they often buy orange-labelled food products that are on their expiry date but are still good to eat. The most frequent purchasers of such products are people in Estonia (45%), Latvia (29%) and to a lesser extent Lithuania (27%).

Where is the biggest spending?

The top 3 categories where people try to save in all the Baltic countries are food (40% in Latvia, 39% in Estonia, 36% in Lithuania), leisure and entertainment (26% in Lithuania, 35% in Latvia, 37% in Estonia), and clothing and footwear (33% in Latvia and Estonia, 34% in Lithuania).

Lithuanians are statistically less likely than Latvians or Estonians to mention spending on leisure and entertainment: they save much less than in the other two countries. Compared to the previous survey, the Baltic residents were less likely to save on food and clothing, footwear and accessories.

According to V. Lukoševičius, it is noticeable that Lithuanians spend more of their budget on food before the biggest holidays of the year: they buy delicacies, favourite or less frequently consumed products. This is confirmed by the survey data – on average, a quarter of Baltic shoppers admitted that they often indulge during the holidays.  

„However, only 12% of respondents in Latvia and Estonia can afford to buy more expensive, better quality or less frequently consumed foods on normal days without waiting for the holidays. In Lithuania, the proportion is twice as high as in these countries - 24%, he notes.

Cheapness of a product is now the most important criterion for shoppers, he notes. On average, just over a fifth of the Baltic population is not willing to pay more for a food product they know, a favourite producer, a longer shelf life or another important criterion compared to a cheaper alternative in the store.

More earners also look for promotions 

V. Lukoševičius points out that people who earn more also save. According to the survey, almost half (48%) of the highest earners (EUR 1501 or more) try to shop cheaper every day. According to him, the rapid inflation that started a few years ago has forced those with above-average incomes to look at their shopping habits, so everyone now thinks about value for money when they go to the store.

 

Marks : Agricultural news, food, savings.

Norėdami komentuoti prisijunkite prie facebook