Poles as optimists facing pandemic: a study

Despite the pandemic, most Poles do not limit their spending and intend to return to "normalcy" as soon as possible. There has been a significant shift in typical social responses in some areas. It is clearly visible in the respondents' declarations. 

During the pandemic restrictions, 30 percent of respondents showed a tendency to reduce expenses and savings, and 16 percent of them reduced the cost of living. Poles, usually regarded as impulsive and impulse, turned out to be subdued. 43 percent of them  were balanced and remained calm during the worsening pandemic.

Polish consumers show relatively high optimism. 26 percent of households have cut their spending, compared to 47 percent worldwide. In the long term, 14 percent of Polish society declares a reduction in spending, while globally as much as 28 percent will do this.

“The Polish edition of the ‘EY Future Consumer Index’ survey initiated by EY in April shows that, like the inhabitants of other parts of the world, we most like to demonstrate the’"Stay calm, carry on’ attitude. It can be seen, however, that we are introducing austerity plans less strongly than representatives of other – especially Western European – countries. Rather, we adopt a wait-and-see attitude and, by not opting for radical cuts, we expect a return to normalcy. Probably it will not be the same reality and changes will be necessary – even if they will not significantly affect home budgets, they will probably bring at least a partial change in purchasing behavior,” Łukasz Wojciechowski, EY Partner, Leader of the Trade and Consumer Products Sector, said.

(WBJ)