In search of promotions – inflation the biggest concern for consumers

The Polish consumer is very worried about inflation, so when choosing products during online shopping pays special attention to promotions and price cuts. Environmental issues are getting into the background, despite the fact that most Poles are aware of climate change and the negative consequences it brings. These are among the main findings of Strategy&’s report “Optimism only where the price is low. Attitudes and purchasing behavior of Polish consumers”. However, the publication also brings other important data for retailers.

What worries consumers in Poland and CEE the most?

The Polish consumer expects to increase his spending in the next few months. And he is not alone in this, as consumers in other Central and Eastern European (CEE) countries think the same. This is primarily the result of persistent inflation – 66% of Poles are afraid of its effects and consider it the biggest threat. Inflation leaves behind geopolitical conflict (45% of indications), health risks (44%) and macroeconomic uncertainty (43%). 

Climate change issues are perceived as a much smaller threat by Polish consumers, receiving 25% of indications. The same is true for people in other CEE countries (27%), but the rest of the world attaches much greater importance to environmental issues (39%). This is not to say that Poles are unaware of climate change – 83% of them see disruptions related to it in their daily lives. However, when it comes to shopping online, for only 16% this issue is an important factor in choosing products or a store

How is the consumer driven when shopping online?

For almost half (47%) of Polish consumers, promotions are the most important factor when shopping online. Thus, an effective promotional policy seems extremely important in a time of persistent inflation. In this regard, we differ significantly from consumers in other CEE countries, who prioritize faster delivery time (43% of indications) and the availability of verified, trusted product reviews (37%) over promotions (31% of indications). 

Faster delivery time is also important to Poles – even a bit more important than to people from other CEE countries – and with 45% of indications, comes second, after promotions. However, verified, trusted reviews are much less important for Polish consumers when choosing a product online (26%) than for residents of other countries in our region. 

It is also worth noting the high percentage of indications of transaction security – and this is true for both Poland and CEE (33% and 31%, respectively). In this regard, however, it is worth increasing consumer awareness. 78% of consumers are aware of the importance of privacy and security of their data, but only 57% are convinced that they know how this data is stored and shared. Also notable is that Poles are not as willing to share their data as people from other countries. Only 39% agree to personalize services based on the data collected from them (vs. 49% globally), and 36% agree to share data for analysis (globally it’s 50%).

Social media information affects purchasing decisions

Social media ads impact the purchases of 70% of Polish consumers, leaving far behind the website (58%), mailings (53%) and SMS messages (38%). For 18- to 34-year-olds, this percentage is as high as 80%. One of the biggest advantages of social media is precisely the ability to reach younger generations, who are spending more and more time online, and influencer recommendations are often more credible to them than traditional advertising.

Social media is becoming an increasingly effective channel for reaching potential customers. 60% of Poles admit that they get to know new, previously unknown brands through social media (55% in CEE and as many as 67% globally). Thanks to precise targeting, companies can create advertising campaigns there exactly to those people who will be interested in their products or services.

Still, we prefer to buy through other channels. Thirty-eight percent of Poles admit to making a purchase directly through social media – for CEE and the world, the percentages are 42% and 46%, respectively. This difference may be due to the fact that, despite its huge potential, social media is still not used for commercial purposes in Poland to the same extent as in the world, and also because Poles themselves are somewhat less engaged in social media campaigns. 

Detailed product descriptions key to less returns

The authors of the report “Optimism only where the price is low. Attitudes and purchasing behavior of Polish consumers” also addressed the issue of returns, extremely important for modern consumers. The latter were asked what factors, in their opinion, contribute to reducing returns. Consumers from Poland and CEE indicate first and foremost “More accurate and detailed product descriptions” (47% and 49% of indications, respectively). In second place, both mentioned “More detailed size information” (46% i 43%). 

In order to reduce returns, retailers should therefore invest in improving product information, particularly in providing accurate descriptions and sizing information. The ideal tool for this is a PIM (Product Information Management) system, such as from Akeneo. It’s advanced software that allows centralized and efficient management of information about the products that are in the store.  

Implementation of Akeneo PIM, which among other brands we have successfully implemented for eobuwie.pl or Amica, allows not only to reduce returns by 40% (thus also reducing the negative impact on the environment), but also to increase conversion by as much as four times. 

The report “Optimism only where the price is low. Attitudes and purchasing behavior of Polish consumers” was based on 20,662 surveys conducted with consumers from 31 countries, during January and February 2024. The full report can be downloaded here.