Consumers’ New Luxuries Study

About the study

This study measures how “yesterday’s normal becomes today’s luxury” during prolonged economic contraction, examining habits consumers have abandoned, borrowing, income–expenditure balance and the narrowing differences between socioeconomic groups. It was published in the September 2022 issue.

Key findings

• Middle-aged and older people feel poorer, while borrowing is more prevalent among younger people (32.5%). Only 13.1% can continue meeting their needs thanks to increased income.
• 34% will continue cutting back on or giving up habits to cope with price increases. Services being reduced include ordering food (10.8%), online platform subscriptions (9.9%) and cinema/theatre visits (9%). Meat disappears from dining tables, holidays from plans, and activities that cannot be shared on social media from people’s lives; cosmetics (21.7%) and social and cultural costs (21.3%) are the categories felt least.
• All socioeconomic groups have begun to resemble one another in consumption behaviour; consumers think they will come to miss even the prices of that period.

Methodology

The study was conducted on 9 August 2022 through the Eşzamanlı Mobile Panel with 600 people over 18 from the A–E socioeconomic status groups, representative of Türkiye, with a reported 95% confidence level and 3% margin of error.