Consumer survey: Danes have significant concerns about the impacts of the war in Ukraine and rising prices
Danish consumer confidence has fallen sharply since the outbreak of war in Ukraine. A new survey shows that Danes are particularly concerned about the rising prices of food, energy and fuel.
Every day brings more news about the war in Ukraine. Almost as often, consumers can see prices rising in their local supermarket.
A new Danish survey conducted by Norstat for the Danish Agriculture & Food Council offers an insight into how the war in Ukraine is affecting the Danes’ daily life and how it is impacting on Danish consumer habits and plans.
“The survey looks at how the Danes’ habits are changing, and it is clear that the war in Ukraine is of great concern,” says Per Vesterbæk, Area Manager, Analysis and Statistics at the Danish Agriculture & Food Council. “In fact, 65 per cent of Danes state that the war is of concern while Covid-19 has moved rapidly down the list.”
Seven out of ten Danes changed their habits after the start of the war
On 24 February, Russia entered neighbouring Ukraine using military force. Since then, the war has occupied much of the news media and has preoccupied the minds of many Danes. In the survey, seven out of ten Danes said that they have changed their habits following the start of the war, particularly in terms of turning down the heating. In fact, as many as 37 per cent state that they have done so while 33 per cent have saved on petrol and diesel. 25 per cent state that they have bought more food on special offer or gone for cheaper brands since the war started.
“The survey shows that Danes are looking into how they can reduce their fixed expenses. As far as the cost of fuel or our favourite food is concerned, it is obvious that prices are rising on a daily basis. This means, of course, that consumers are focused on cheaper products and special offers,” says Per Vesterbæk.
The Danes are keen to save
The Danes are adjusting to having less money to spend – and want to save more.
Although many are trying to do so, there is broad recognition of the fact that there will be less money available to spend in future. In fact, as many as 68 per cent of those surveyed said that they are expecting to have less money at their disposal over the next three to six months.
There is also increasing focus on saving money, with 23 per cent of those surveyed wanting to save more than they did before. 20 per cent intend to do more recycling.
"It’s clear that even if a great deal of emphasis is being put on saving and cutting down, Danes believe that this isn’t enough. Most people agree that they will have less money in future,” says Per Vesterbæk.
Consumer behaviour across food categories
One in four Danes has, in their view, bought more food on offer/cheaper food after the start of the war. Fig 12 shows how consumers have shown a change in behaviour across various food categories since the start of the war.
Area Director, Analysis and Statistics
Danish Agriculture & Food Council