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European economic outlook and consumer spending habits

European economic outlook and consumer spending habits

European economic outlook and consumer spending habits

European economic outlook and consumer spending habits

Explore data from 10,000 European consumers to discover their economic outlook and how they plan to spend. Read the report today.

Explore data from 10,000 European consumers to discover their economic outlook and how they plan to spend. Read the report today.

Ecommerce-tips

Ecommerce-tips

Ecommerce-tips

Nov 19, 2024

We've all seen our fair share of troubling headlines over recent months and years: global unrest, inflation, the cost of living crisis, and shrinking labour markets. It's been a turbulent time for economies and, more importantly, people. Yet, amidst the challenges, there are also bright spots: unprecedented growth in specific sectors, interest rate reductions, stabilising markets, and more.

These positive and negative headlines don't just fade into the background. Instead, they shape how we think and feel, which inevitably impacts how we spend and what we buy.

If you're selling online, gauging how people think and feel can be challenging. However, knowing how consumers feel about the economic situation is a good way to identify what opportunities might exist for your business.

To help, we conducted a comprehensive survey capturing the voices of 10,000 European consumers, asking them about their views on the economy and their current and future spending behaviour.

This article uses the data to explore how online consumers feel about the economic situation, their spending habits, and what the future might hold.

We've all seen our fair share of troubling headlines over recent months and years: global unrest, inflation, the cost of living crisis, and shrinking labour markets. It's been a turbulent time for economies and, more importantly, people. Yet, amidst the challenges, there are also bright spots: unprecedented growth in specific sectors, interest rate reductions, stabilising markets, and more.

These positive and negative headlines don't just fade into the background. Instead, they shape how we think and feel, which inevitably impacts how we spend and what we buy.

If you're selling online, gauging how people think and feel can be challenging. However, knowing how consumers feel about the economic situation is a good way to identify what opportunities might exist for your business.

To help, we conducted a comprehensive survey capturing the voices of 10,000 European consumers, asking them about their views on the economy and their current and future spending behaviour.

This article uses the data to explore how online consumers feel about the economic situation, their spending habits, and what the future might hold.

We've all seen our fair share of troubling headlines over recent months and years: global unrest, inflation, the cost of living crisis, and shrinking labour markets. It's been a turbulent time for economies and, more importantly, people. Yet, amidst the challenges, there are also bright spots: unprecedented growth in specific sectors, interest rate reductions, stabilising markets, and more.

These positive and negative headlines don't just fade into the background. Instead, they shape how we think and feel, which inevitably impacts how we spend and what we buy.

If you're selling online, gauging how people think and feel can be challenging. However, knowing how consumers feel about the economic situation is a good way to identify what opportunities might exist for your business.

To help, we conducted a comprehensive survey capturing the voices of 10,000 European consumers, asking them about their views on the economy and their current and future spending behaviour.

This article uses the data to explore how online consumers feel about the economic situation, their spending habits, and what the future might hold.

We've all seen our fair share of troubling headlines over recent months and years: global unrest, inflation, the cost of living crisis, and shrinking labour markets. It's been a turbulent time for economies and, more importantly, people. Yet, amidst the challenges, there are also bright spots: unprecedented growth in specific sectors, interest rate reductions, stabilising markets, and more.

These positive and negative headlines don't just fade into the background. Instead, they shape how we think and feel, which inevitably impacts how we spend and what we buy.

If you're selling online, gauging how people think and feel can be challenging. However, knowing how consumers feel about the economic situation is a good way to identify what opportunities might exist for your business.

To help, we conducted a comprehensive survey capturing the voices of 10,000 European consumers, asking them about their views on the economy and their current and future spending behaviour.

This article uses the data to explore how online consumers feel about the economic situation, their spending habits, and what the future might hold.

The economic outlook

The current situation

First, we asked consumers how they felt about the current economic situation in their country.

In total, 28% of European consumers have a positive view of their country's economic situation, though 45% have a negative outlook about the overall situation.

While results remained stable compared to last year's data, there are still significant differences between individual countries, with just over a third of respondents in the Netherlands (34%) feeling positive about the current situation, while more than half of French consumers have a negative view (56%).

Here's Dominik Witte, Chief Sales Officer at German ecommerce software-integration firm basecom, with his views on the results.

"For us, the key factors driving consumer's negative perception of the economic situation are inflation and the cost of living," Dominik says, "as well as the uncertainty regarding the political situation, both in Germany and across Europe.

"The considerable rise in consumer prices in recent years has inevitably had a negative effect on people's perceptions of the economic situation. And political crises and challenges, such as the energy transition and the associated transformation processes, contribute to the generally negative view."

The economic future

Understanding how consumers feel about the current economy is vital, but analysing expectations about the economic future can also offer a glimpse into upcoming trends and potential shifts in behaviour.

So, we asked consumers what they think about their country’s economic future.

The results show cautious optimism. While 44% of respondents predict a positive economic outlook, this figure represents a slight decline from last year. Here, the UK is relatively stable. However, in other markets like the Netherlands and Germany, consumers are more pessimistic, with more shoppers expecting economic conditions to worsen.

The current situation

First, we asked consumers how they felt about the current economic situation in their country.

In total, 28% of European consumers have a positive view of their country's economic situation, though 45% have a negative outlook about the overall situation.

While results remained stable compared to last year's data, there are still significant differences between individual countries, with just over a third of respondents in the Netherlands (34%) feeling positive about the current situation, while more than half of French consumers have a negative view (56%).

Here's Dominik Witte, Chief Sales Officer at German ecommerce software-integration firm basecom, with his views on the results.

"For us, the key factors driving consumer's negative perception of the economic situation are inflation and the cost of living," Dominik says, "as well as the uncertainty regarding the political situation, both in Germany and across Europe.

"The considerable rise in consumer prices in recent years has inevitably had a negative effect on people's perceptions of the economic situation. And political crises and challenges, such as the energy transition and the associated transformation processes, contribute to the generally negative view."

The economic future

Understanding how consumers feel about the current economy is vital, but analysing expectations about the economic future can also offer a glimpse into upcoming trends and potential shifts in behaviour.

So, we asked consumers what they think about their country’s economic future.

The results show cautious optimism. While 44% of respondents predict a positive economic outlook, this figure represents a slight decline from last year. Here, the UK is relatively stable. However, in other markets like the Netherlands and Germany, consumers are more pessimistic, with more shoppers expecting economic conditions to worsen.

The current situation

First, we asked consumers how they felt about the current economic situation in their country.

In total, 28% of European consumers have a positive view of their country's economic situation, though 45% have a negative outlook about the overall situation.

While results remained stable compared to last year's data, there are still significant differences between individual countries, with just over a third of respondents in the Netherlands (34%) feeling positive about the current situation, while more than half of French consumers have a negative view (56%).

Here's Dominik Witte, Chief Sales Officer at German ecommerce software-integration firm basecom, with his views on the results.

"For us, the key factors driving consumer's negative perception of the economic situation are inflation and the cost of living," Dominik says, "as well as the uncertainty regarding the political situation, both in Germany and across Europe.

"The considerable rise in consumer prices in recent years has inevitably had a negative effect on people's perceptions of the economic situation. And political crises and challenges, such as the energy transition and the associated transformation processes, contribute to the generally negative view."

The economic future

Understanding how consumers feel about the current economy is vital, but analysing expectations about the economic future can also offer a glimpse into upcoming trends and potential shifts in behaviour.

So, we asked consumers what they think about their country’s economic future.

The results show cautious optimism. While 44% of respondents predict a positive economic outlook, this figure represents a slight decline from last year. Here, the UK is relatively stable. However, in other markets like the Netherlands and Germany, consumers are more pessimistic, with more shoppers expecting economic conditions to worsen.

The current situation

First, we asked consumers how they felt about the current economic situation in their country.

In total, 28% of European consumers have a positive view of their country's economic situation, though 45% have a negative outlook about the overall situation.

While results remained stable compared to last year's data, there are still significant differences between individual countries, with just over a third of respondents in the Netherlands (34%) feeling positive about the current situation, while more than half of French consumers have a negative view (56%).

Here's Dominik Witte, Chief Sales Officer at German ecommerce software-integration firm basecom, with his views on the results.

"For us, the key factors driving consumer's negative perception of the economic situation are inflation and the cost of living," Dominik says, "as well as the uncertainty regarding the political situation, both in Germany and across Europe.

"The considerable rise in consumer prices in recent years has inevitably had a negative effect on people's perceptions of the economic situation. And political crises and challenges, such as the energy transition and the associated transformation processes, contribute to the generally negative view."

The economic future

Understanding how consumers feel about the current economy is vital, but analysing expectations about the economic future can also offer a glimpse into upcoming trends and potential shifts in behaviour.

So, we asked consumers what they think about their country’s economic future.

The results show cautious optimism. While 44% of respondents predict a positive economic outlook, this figure represents a slight decline from last year. Here, the UK is relatively stable. However, in other markets like the Netherlands and Germany, consumers are more pessimistic, with more shoppers expecting economic conditions to worsen.

Consumer spending habits

Future spending habits

Now that we know how people view the general economic outlook, how do they expect that view to affect their individual spending habits over the next year?

Some consumers remain optimistic, with 44% expecting to spend more online. This figure has slightly decreased compared to last year. In the Netherlands, for example, the number of consumers who expect to increase their online spending has dropped from 56% to 49%. To a lesser degree, this cautious approach is mirrored in other markets.

What does this mean for businesses? Consumers may feel the strain of economic uncertainty, which is reflected in a more conservative attitude towards spending. Businesses looking to stay ahead in a market that could shrink slightly in the future must focus on offering excellent value. It’s also worth watching what your competition is doing to ensure your customer journey provides a competitive level of affordability and convenience.

Future spending habits

Now that we know how people view the general economic outlook, how do they expect that view to affect their individual spending habits over the next year?

Some consumers remain optimistic, with 44% expecting to spend more online. This figure has slightly decreased compared to last year. In the Netherlands, for example, the number of consumers who expect to increase their online spending has dropped from 56% to 49%. To a lesser degree, this cautious approach is mirrored in other markets.

What does this mean for businesses? Consumers may feel the strain of economic uncertainty, which is reflected in a more conservative attitude towards spending. Businesses looking to stay ahead in a market that could shrink slightly in the future must focus on offering excellent value. It’s also worth watching what your competition is doing to ensure your customer journey provides a competitive level of affordability and convenience.

Future spending habits

Now that we know how people view the general economic outlook, how do they expect that view to affect their individual spending habits over the next year?

Some consumers remain optimistic, with 44% expecting to spend more online. This figure has slightly decreased compared to last year. In the Netherlands, for example, the number of consumers who expect to increase their online spending has dropped from 56% to 49%. To a lesser degree, this cautious approach is mirrored in other markets.

What does this mean for businesses? Consumers may feel the strain of economic uncertainty, which is reflected in a more conservative attitude towards spending. Businesses looking to stay ahead in a market that could shrink slightly in the future must focus on offering excellent value. It’s also worth watching what your competition is doing to ensure your customer journey provides a competitive level of affordability and convenience.

Future spending habits

Now that we know how people view the general economic outlook, how do they expect that view to affect their individual spending habits over the next year?

Some consumers remain optimistic, with 44% expecting to spend more online. This figure has slightly decreased compared to last year. In the Netherlands, for example, the number of consumers who expect to increase their online spending has dropped from 56% to 49%. To a lesser degree, this cautious approach is mirrored in other markets.

What does this mean for businesses? Consumers may feel the strain of economic uncertainty, which is reflected in a more conservative attitude towards spending. Businesses looking to stay ahead in a market that could shrink slightly in the future must focus on offering excellent value. It’s also worth watching what your competition is doing to ensure your customer journey provides a competitive level of affordability and convenience.

What have we learned?

The data paints a complex yet revealing picture. While some optimism remains, especially in the medium term, consumers feel tentative about their financial futures, which will directly impact their spending habits.

The bottom line is that consumers may not continue spending quite as freely. But, they will still be spending, perhaps just with a little bit more thought and intention. Here’s Dominik on how to deliver continued success despite these challenges.

“For online businesses in Europe, a compelling brand experience and an excellent customer experience are key to success,” Dominik explains. “Brands must demonstrate sustainable added value to consumers while at the same time convincing them with compelling service and content offerings. The online music store Thomann provides an excellent example of this.

“Retailers who can present their products consistently across channels and effectively communicate their brand value can overcome barriers to purchase, even among cautious customers. Immersive technologies such as 3D configurators offer great opportunities by making products tangible for online customers. Innovative digital experiences throughout the customer journey can confirm and reinforce purchasing decisions and will be crucial to success in ecommerce in the coming years. These include alternative payment methods and offers such as buy now, pay later.”

Despite the cautious consumer environment, there is likely a clear path to success: consistently offering convenience, reliability, and affordability can help you thrive.

The data paints a complex yet revealing picture. While some optimism remains, especially in the medium term, consumers feel tentative about their financial futures, which will directly impact their spending habits.

The bottom line is that consumers may not continue spending quite as freely. But, they will still be spending, perhaps just with a little bit more thought and intention. Here’s Dominik on how to deliver continued success despite these challenges.

“For online businesses in Europe, a compelling brand experience and an excellent customer experience are key to success,” Dominik explains. “Brands must demonstrate sustainable added value to consumers while at the same time convincing them with compelling service and content offerings. The online music store Thomann provides an excellent example of this.

“Retailers who can present their products consistently across channels and effectively communicate their brand value can overcome barriers to purchase, even among cautious customers. Immersive technologies such as 3D configurators offer great opportunities by making products tangible for online customers. Innovative digital experiences throughout the customer journey can confirm and reinforce purchasing decisions and will be crucial to success in ecommerce in the coming years. These include alternative payment methods and offers such as buy now, pay later.”

Despite the cautious consumer environment, there is likely a clear path to success: consistently offering convenience, reliability, and affordability can help you thrive.

The data paints a complex yet revealing picture. While some optimism remains, especially in the medium term, consumers feel tentative about their financial futures, which will directly impact their spending habits.

The bottom line is that consumers may not continue spending quite as freely. But, they will still be spending, perhaps just with a little bit more thought and intention. Here’s Dominik on how to deliver continued success despite these challenges.

“For online businesses in Europe, a compelling brand experience and an excellent customer experience are key to success,” Dominik explains. “Brands must demonstrate sustainable added value to consumers while at the same time convincing them with compelling service and content offerings. The online music store Thomann provides an excellent example of this.

“Retailers who can present their products consistently across channels and effectively communicate their brand value can overcome barriers to purchase, even among cautious customers. Immersive technologies such as 3D configurators offer great opportunities by making products tangible for online customers. Innovative digital experiences throughout the customer journey can confirm and reinforce purchasing decisions and will be crucial to success in ecommerce in the coming years. These include alternative payment methods and offers such as buy now, pay later.”

Despite the cautious consumer environment, there is likely a clear path to success: consistently offering convenience, reliability, and affordability can help you thrive.

The data paints a complex yet revealing picture. While some optimism remains, especially in the medium term, consumers feel tentative about their financial futures, which will directly impact their spending habits.

The bottom line is that consumers may not continue spending quite as freely. But, they will still be spending, perhaps just with a little bit more thought and intention. Here’s Dominik on how to deliver continued success despite these challenges.

“For online businesses in Europe, a compelling brand experience and an excellent customer experience are key to success,” Dominik explains. “Brands must demonstrate sustainable added value to consumers while at the same time convincing them with compelling service and content offerings. The online music store Thomann provides an excellent example of this.

“Retailers who can present their products consistently across channels and effectively communicate their brand value can overcome barriers to purchase, even among cautious customers. Immersive technologies such as 3D configurators offer great opportunities by making products tangible for online customers. Innovative digital experiences throughout the customer journey can confirm and reinforce purchasing decisions and will be crucial to success in ecommerce in the coming years. These include alternative payment methods and offers such as buy now, pay later.”

Despite the cautious consumer environment, there is likely a clear path to success: consistently offering convenience, reliability, and affordability can help you thrive.

Delight shoppers, increase sales

If you’re running an ecommerce business, the European Ecommerce Report 2025 has all the data and actionable insights you need to delight your customers. It will teach you:

How consumers plan to shop and spend
How to attract shoppers to your site
How to drive browsers to checkout
How to prevent checkout abandonments
How to build loyalty and drive repurchases
What’s happening in key European markets

Want access to all the insights and learn how to increase conversions, maximise sales, and build loyalty? Explore the main report.

If you’re running an ecommerce business, the European Ecommerce Report 2025 has all the data and actionable insights you need to delight your customers. It will teach you:

How consumers plan to shop and spend
How to attract shoppers to your site
How to drive browsers to checkout
How to prevent checkout abandonments
How to build loyalty and drive repurchases
What’s happening in key European markets

Want access to all the insights and learn how to increase conversions, maximise sales, and build loyalty? Explore the main report.

If you’re running an ecommerce business, the European Ecommerce Report 2025 has all the data and actionable insights you need to delight your customers. It will teach you:

How consumers plan to shop and spend
How to attract shoppers to your site
How to drive browsers to checkout
How to prevent checkout abandonments
How to build loyalty and drive repurchases
What’s happening in key European markets

Want access to all the insights and learn how to increase conversions, maximise sales, and build loyalty? Explore the main report.

If you’re running an ecommerce business, the European Ecommerce Report 2025 has all the data and actionable insights you need to delight your customers. It will teach you:

How consumers plan to shop and spend
How to attract shoppers to your site
How to drive browsers to checkout
How to prevent checkout abandonments
How to build loyalty and drive repurchases
What’s happening in key European markets

Want access to all the insights and learn how to increase conversions, maximise sales, and build loyalty? Explore the main report.

About the research

We partnered with leading research agency Coleman Parkes to survey 10,000 European consumers who shop online (at least one online purchase in the last month, though 66% had bought something in the previous week).

The research was conducted online in July and August 2024.

The research was conducted across the Netherlands, Belgium, the UK, Germany, and France, with 2,000 surveys conducted in each market. To get a true representation of consumers in the research sample, a mix of age ranges, genders, and income brackets was included.

We partnered with leading research agency Coleman Parkes to survey 10,000 European consumers who shop online (at least one online purchase in the last month, though 66% had bought something in the previous week).

The research was conducted online in July and August 2024.

The research was conducted across the Netherlands, Belgium, the UK, Germany, and France, with 2,000 surveys conducted in each market. To get a true representation of consumers in the research sample, a mix of age ranges, genders, and income brackets was included.

We partnered with leading research agency Coleman Parkes to survey 10,000 European consumers who shop online (at least one online purchase in the last month, though 66% had bought something in the previous week).

The research was conducted online in July and August 2024.

The research was conducted across the Netherlands, Belgium, the UK, Germany, and France, with 2,000 surveys conducted in each market. To get a true representation of consumers in the research sample, a mix of age ranges, genders, and income brackets was included.

We partnered with leading research agency Coleman Parkes to survey 10,000 European consumers who shop online (at least one online purchase in the last month, though 66% had bought something in the previous week).

The research was conducted online in July and August 2024.

The research was conducted across the Netherlands, Belgium, the UK, Germany, and France, with 2,000 surveys conducted in each market. To get a true representation of consumers in the research sample, a mix of age ranges, genders, and income brackets was included.

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Table of contents

Table of contents

Table of contents

The economic outlook

Consumer spending habits

What have we learned?

Delight shoppers, increase sales

About the research

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Mollie GrowthEuropean economic outlook and consumer spending habits

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Mollie GrowthEuropean economic outlook and consumer spending habits