CoronaOne fifth of consumers financially affected by Corona crisis

Today, the Federation of German Consumer Organizations (vzbv) published the results of a consumer survey on financial losses during the Corona pandemic. According to the results, around a fifth of consumers reported financial losses as a result of the pandemic.

For this representative survey, the vzbv commissioned Kantar to interview a total of 1008 consumers aged 14 and above in Germany by telephone in the beginning of June 2020.

These are further insights:

  • The corona pandemic affects consumers to varying degrees: one fifth of respondents said they had suffered financial losses – the reasons being loss of salary (75 percent), increased costs for health and care (28 percent), pending reimbursements for cancelled flights and vacations as well as higher food prices (26 percent each).

  • On the other hand, 78 percent of respondents said to experience no financial disadvantages as a result of the Corona pandemic so far.

  • The perception of the crisis management policy also differs: while 45 percent of respondents consider the policy response to the corona pandemic to be balanced, another 41 percent believe that corporate interests are at the forefront of crisis management. In contrast, only four percent of those surveyed believe that policy responses tend to pursue the interests of consumers.

  • Among the 14 to 39-year-olds, the view that politics tend to pursue corporate interests dominates with 47 percent. Among the respondents over the age of 60, 45 percent consider politics to be balanced and only 35 percent consider it biased towards corporations.

Klaus Müller, director at vzbv, said: "The corona crisis hits many consumers severely. Millions of people are struggling with salary and job losses, they have to spend more money on health care or food, and they are not financially reimbursed for cancelled trips and events. Many consumers also continue to pay their bills for gym , music or swimming lessons without receiving the contractually agreed services. These are also financial losses. This makes it all the more important to have a balanced crisis management policy that focuses not only on the interests of companies, but puts consumers at the center of their actions."

Source: vzbv

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