Greeks Make Extra Cutbacks on Expenses



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According to a survey conducted by the Boston Consulting Group regarding the mentality of consumers in Greece, the majority of Greek consumers are planning to further reduce their expenditures.

Mr. Vassilis Antoniades noted that in Greece there is cautious optimism over the consuming tendency.

Ms. Camille Egloff-Chicas, partner and Managing Director of BCG who participated in the research, said that the Greek consumers consider things such health, tranquility, family, education and stability as priorities.

According to the survey’s data, Greeks are planning to reduce their expenses. In addition, they intend to wisely manage their money and buy only the things that are necessary.

In particular, 83 percent of the respondents stated that they will reduce the purchases of less necessary products while 66 percent of those polled stated that they will make no cuts on products of primary needs such as fresh foods, dairy products and baby foods. Meanwhile, they claimed that they will cut back on restaurant dining and fast-food.

In addition, many of the respondents claimed that they are willing to make cuts on their mobile services but few are considering cuts on children’s clothing, health products and the gym.