According to a survey conducted in early May 2024, approximately 85 percent of low-income consumers in Italy had traded down when purchasing a product in the past three months. In other words, these consumers had bought less valuable or lower-priced items, e.g., by shopping at a lower-priced retailer. Unsurprisingly, those part of a higher income bracket were less likely to have done so.
Share of consumers changing their shopping behavior to trade down in Italy in 2024, by income level
The source phrased the question as follows: "Within the past 3 months, have you done any of the following when purchasing a product (asked across multiple categories)?"
* In five European countries. The exact number of respondents for Italy was not provided by the source.
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McKinsey & Company. (June 21, 2024). Share of consumers changing their shopping behavior to trade down in Italy in 2024, by income level [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1497930/consumers-changing-their-behavior-to-trade-down-by-income-it/
McKinsey & Company. "Share of consumers changing their shopping behavior to trade down in Italy in 2024, by income level." Chart. June 21, 2024. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1497930/consumers-changing-their-behavior-to-trade-down-by-income-it/
McKinsey & Company. (2024). Share of consumers changing their shopping behavior to trade down in Italy in 2024, by income level. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1497930/consumers-changing-their-behavior-to-trade-down-by-income-it/
McKinsey & Company. "Share of Consumers Changing Their Shopping Behavior to Trade down in Italy in 2024, by Income Level." Statista, Statista Inc., 21 Jun 2024, https://www.statista.com/statistics/1497930/consumers-changing-their-behavior-to-trade-down-by-income-it/
McKinsey & Company, Share of consumers changing their shopping behavior to trade down in Italy in 2024, by income level Statista, https://www.statista.com/statistics/1497930/consumers-changing-their-behavior-to-trade-down-by-income-it/ (last visited November 22, 2024)
Share of consumers changing their shopping behavior to trade down in Italy in 2024, by income level [Graph], McKinsey & Company, June 21, 2024. [Online]. Available: https://www.statista.com/statistics/1497930/consumers-changing-their-behavior-to-trade-down-by-income-it/
