Estonia: Consumers cut spending amid worse financial situation: poll

Nearly half (45%) of Estonians have seen their financial situation worsen in the past year, according to a Norstat poll for SEB in December 2023, BNS reports. Consumers are therefore cutting back on expenses, including by taking advantage of discounts (62%), planning purchases more carefully (49%), and eating out less often (45%). Other cost-saving measures include reducing purchases of luxury goods (37%), postponing larger purchases (35%), limiting spending on hobbies and entertainment (32%), and travelling less abroad (28%). Furthermore, 17% of respondents limited their consumption on food, 17% changed their spending on clothes and shoes, 16% reviewed their use of transportation, and 15% reduced their alcohol consumption. Only 12% of consumers have not cut their expenses during the last year.