SPENDING IN RELATION TO OTHER COUNTRIES

  • Bulgaria
    171 74%
  • Romania
    132 58%
  • Latvia
    123 53%
  • Croatia
    102 45%
  • Germany
    101 44%
  • Grand Total
    100 44%
  • Czech
    96 42%
  • Estonia
    89 39%
  • Australia
    87 38%
  • Norway
    86 37%
  • Finland
    79 34%
  • Sweden
    76 33%
  • Denmark
    74 32%

How did Corona Virus affected your employment situation?

  • I am still employed and no change in my salary
  • I am still employed but got a reduction in my salary
  • I lost my job and am currently unemployed
  • My job agreement is on pause and I receive government payment support

How did Covid-19 affect your life?

  • I started to enjoy and appreciate more the little things
    3.7
  • When the restrictions will be over, I would love to get back to the office
    3.3
  • I developed new hobbies and healthy habits during this period
    3
  • I fear about another Covid19 wave
    3
  • The additional cost of tests (PCR) and other COVID measures deter me from travelling
    2.8
  • My mental health suffered during Covid19
    2.6
  • I don't consider getting vaccinated this year
    2.4
  • I am on the list to get vaccinated soon
    2.4
  • I plan to travel abroad during this Summer
    2.3
  • I want to continue working from home, even if pandemic will be over
    2.3
  • I am willing to pay more so I can travel safely during this year (Covid Tests, flight insurances, etc)
    2.3
  • I already got vaccinated
    2.3
  • I managed to do some savings during this Covid19 period
    1.9

Working from home during Corona Virus Pandemic, the biggest challenge has been:

  • Don't feel I have a personal life anymore
    34%
  • Lack of space
    17%
  • Having the kids at home
    17%
  • Lack of equipment
    16%
  • Too much overtime
    8%
  • More push from employer
    8%

Household Summer spending forecast 2021

  • Same as last Summer
    48%
  • Less than last Summer
    37%
  • More than last Summer
    14%

 

Bulgaria, Romania and Latvia – 2021 spenders

Summer plans for 2021 are most important for Bulgaria, Romania and Latvia, occupying the top 3 spots as the biggest spenders for the next 2-3 months. Respondents from these 3 countries said they will spend 74%, 58% and 53% of their monthly income for summer plans and activities this year. The Nordics seems to be less excited about spending for their summer 2021 with Finland (34%), Sweden (33%) and Denmark (32%) having far less interest in this category.

 

Traditional shopping and digital payments – Card transactions win the battle over cash

Being asked if they would prefer to go back to traditional shopping or stick to the online version, 64% of the respondents still prefer brick and mortar shopping.
57% of respondents from Sweden and 51% of respondents from Germany said they prefer to remain shopping online.

Overall, payments are getting more and more digitalized as people move away from cash payments and towards online transactions. In 2021, payments are processed with 58% via card, while only 28% will use cash and 19% prefer bank transfer.
Card payments are the most popular choice in Denmark (92%), Norway (84%) and Australia (75%), while Bulgaria (64%) and Croatia (56%) choose primarily cash payments.

 

TRAVEL THE WORLD DURING PANDEMIC TIMES

When asked about delayed spending because of Covid19, respondents named International travel as their top choice. The majority of people are hesitant to travel abroad this year and they prefer to explore within their own country. In addition, there is strong hesitation to pay additional costs ensuring safe travel. At the same time, those who plan to travel are inclined to choose a location that does not require quarantine, they will carry special insurance and be extra cautious with their own health. Those choosing special insurance are primarily residing in Finland, Sweden and the Czech Republic.

How much do you think you will spend during next 2-3 months?

  • 0-200 €
    21%
  • 1201-1400 €
    14%
  • 201-400 €
    14%
  • 401-600 €
    12%
  • 601-800 €
    7%
  • 1401-1600 €
    6%
  • 801-1000 €
    5%
  • 3000 € +
    5%
  • 1001-1200 €
    4%
  • 1601-1800 €
    4%
  • 1801-2000 €
    4%
  • 2001-3000 €
    4%

Biggest spending for the upcoming months:

  • Groceries
    18%
  • Home furnishings
    11%
  • Domestic travelling
    10%
  • Non-gift clothing for yourself or family
    10%
  • Financing children’s needs
    9%
  • Summer clothing and fashion
    8%
  • Gardening or DIY
    8%
  • Travelling abroad
    5%
  • Electronics for home
    5%
  • Social activities
    5%
  • Attending events
    4%
  • Well-being services, spa
    3%
  • Fitness equipment for home
    2%
  • Luxury products
    1%

Online vs street shopping:

  • Traditional shopping (street shopping)
  • Online shopping

When doing online shopping what payment method do you choose?

  • Online card
  • Cash payment on delivery
  • Bank transfer

Most money spent during isolation when doing online shopping:

  • Groceries
    30%
  • Clothes and shoes
    28%
  • Home acquisitions
    18%
  • Personal care products
    7%
  • Ordering food from restaurants
    6%
  • Gifts
    5%
  • Toys for Kids
    4%
  • Fitness or Sport accessories/ equipment
    2%

Cancelled of delayed 2021 plans because of Covid-19:

  • International traveling
    25%
  • Buying home apparel
    18%
  • Buying a car
    17%
  • Domestic traveling
    11%
  • Buying a house/ apartment
    11%
  • Buying a smartphone
    9%
  • Buying clothes/ fashion accessories
    9%

When traveling abroad this Summer I will:

  • Choose a location which doesn't require quarantine
    26%
  • Make sure to have a Corona Virus special insurance
    24%
  • Be more cautious than before regarding to my health
    23%
  • Go to a resort when I have everything I need
    13%
  • Choose agency to book my holiday
    10%
  • Book accommodation via Airbnb
    4%

How are you going to finance your spending?

  • With savings
  • Partly with Ferratum Loans
  • Partly with consumer credits
  • Partly with credit cards
  • Partly with loans from other financial institutions

If you managed to save money during past year, what will you invest into?

  • I didn't save too much money
  • Bank Deposit
  • Real Estate
  • Other
  • Cryptocurrency
  • Stock market
  • Start a business

What's the reason you didn't take a Ferratum loan lately?

  • I didn't need money
  • I am concerned that I couldn't pay it back
  • I spent much less money lately
  • I got financial support from friends and family
  • I took a loan from other financial company

 

SUMMER FINANCING AND SAVINGS

Respondents are planning to cover their summer spending this year with 36% tapping into their savings and 36% using a Ferratum Loan. In terms of accessing a loan, 35% did not choose to take out a Ferratum loan lately because they did not need the money immediately and 25% needed the financial help of a Ferratum Loan, but were concerned about their ability to pay it back.

The majority of people asked did not manage to save money during the pandemic (62%) whereas those who did held funds in bank deposits (11%) and a few are considering cryptocurrencies (5%) as well as the stock market (5%).

 

Top spending for 2021

When it comes to online spending during past months, economic situation is improving also: groceries – occupying 52% this time last year, now dropped to 30% meaning people moved from primary necessities towards other goods: buying home necessities (18%) as well as clothing (28%).

For the next months spending plans, groceries are still in first place (18%) regarding summer spending, followed by home furnishing (11%) and domestic travel (10%).

Bulgaria

Australia
  • Groceries
    24%
  • Summer clothing and fashion
    10%
  • Social activities
    9%
  • Electronics for home
    8%
  • Home furnishings
    8%
  • Spending in relation to other countries: 87 (FE group = 100)
  • Spending relative to household income: 38% (1259 €)
Bulgaria
  • Groceries
    19%
  • Domestic travelling
    14%
  • Summer clothing and fashion
    13%
  • Non-gift clothing for yourself or family
    11%
  • Home furnishings
    10%
  • Spending in relation to other countries: 171 (FE group = 100)
  • Spending relative to household income: 74% (831 €)
Croatia
  • Groceries
    26%
  • Financing children’s needs
    15%
  • Summer clothing and fashion
    13%
  • Home furnishings
    10%
  • Domestic travelling
    10%
  • Spending in relation to other countries: 102 (FE group = 100)
  • Spending relative to household income: 45% (827 €)
Czech
  • Groceries
    21%
  • Domestic travelling
    12%
  • Gardening or DIY
    10%
  • Non-gift clothing for yourself or family
    10%
  • Home furnishings
    8%
  • Spending in relation to other countries: 96 (FE group = 100)
  • Spending relative to household income: 42% (908 €)
Denmark
  • Groceries
    16%
  • Gardening or DIY
    10%
  • Domestic travelling
    9%
  • Non-gift clothing for yourself or family
    9%
  • Social activities
    8%
  • Spending in relation to other countries: 74 (FE group = 100)
  • Spending relative to household income: 32% (1239 €)
Estonia
  • Domestic travelling
    15%
  • Non-gift clothing for yourself or family
    11%
  • Groceries
    9%
  • Gardening or DIY
    9%
  • Home furnishings
    8%
  • Spending in relation to other countries: 89 (FE group = 100)
  • Spending relative to household income: 39% (750 €)
Finland
  • Groceries
    21%
  • Domestic travelling
    15%
  • Gardening or DIY
    10%
  • Financing children’s needs
    9%
  • Non-gift clothing for yourself or family
    8%
  • Spending in relation to other countries: 79 (FE group = 100)
  • Spending relative to household income: 34% (1404 €)
Germany
  • Groceries
    15%
  • Summer clothing and fashion
    12%
  • Social activities
    11%
  • Gardening or DIY
    9%
  • Home furnishings
    8%
  • Spending in relation to other countries: 101 (FE group = 100)
  • Spending relative to household income: 44% (1343 €)
Latvia
  • Home furnishings
    17%
  • Groceries
    16%
  • Non-gift clothing for yourself or family
    12%
  • Gardening or DIY
    11%
  • Financing children’s needs
    10%
  • Spending in relation to other countries: 123 (FE group = 100)
  • Spending relative to household income: 53% (770 €)
Norway
  • Groceries
    18%
  • Domestic travelling
    13%
  • Social activities
    12%
  • Gardening or DIY
    8%
  • Financing children’s needs
    8%
  • Spending in relation to other countries: 86 (FE group = 100)
  • Spending relative to household income: 37% (1364 €)
Romania
  • Groceries
    17%
  • Non-gift clothing for yourself or family
    14%
  • Domestic travelling
    13%
  • Home furnishings
    12%
  • Summer clothing and fashion
    8%
  • Spending in relation to other countries: 132 (FE group = 100)
  • Spending relative to household income: 58% (875 €)
Sweden
  • Groceries
    19%
  • Social activities
    11%
  • Summer clothing and fashion
    10%
  • Non-gift clothing for yourself or family
    9%
  • Domestic travelling
    8%
  • Spending in relation to other countries: 76 (FE group = 100)
  • Spending relative to household income: 33% (1092 €)