Due to the adjustment, 57% of Argentines use their savings to cover monthly expenses

The impact of the recession continues to be felt strongly in the pockets of Argentines, which is reflected in a lower consumptionpreferences for second brands or the use savings to meet monthly expenses. The need to draw on personal reserves of money was exposed in a recent report that portrayed the change in habits in certain sectors of the middle class that had the capacity to save. According to the survey, “57% use their savings to cover monthly expenses.”

According to the survey of the Consumer Expectations Observatory prepared by the consulting firm Trendsity, the data reflects that the scenario anticipated in mid-July by the Minister of Economy is already being observed, Luis Caputo. On that occasion, the official spoke specifically about the Dollars intended for payment of services and other common expenses.

Referring to the implementation of the new monetary policy with the beginning of the second phase of the economic program, Caputo had assured in his X account: “We are going to dry up the market of pesos. Some are not convinced. Reality will prove that “Soon people will have to sell dollars to pay taxes.”

What the study says about consumption

The study provided other variations at the time of purchase, warning that 58% of respondents cut back on essential products, while 54% of respondents visited several points of sale to find better prices.

Along these lines, he pointed out that “permanent scanning as a performance strategy implies comparing more, and in many cases, buying less frequently: 51% confirmed this trend. In this race to detect competitive prices, 76% switched from regular brands to more affordable ones.”

The survey also revealed a decline in purchases, as various public and private indicators have been doing in recent months. In this regard, Mariela Mociulsky, CEO of Trendsity, indicated that “the possibility of stocking up as a tool does not apply if pockets are empty” and specified that “purchases fell by 35%.”

Families’ strategies for managing income

In this context, he explained that “Families seek to stretch income Among the strategies, the increase in basic and inexpensive foods such as legumes, cereals and grains stands out, to the detriment of beef, whose consumption reached the lowest levels in the last 30 years.”

He also noted that “Home cooking has regained a place of prestige as it guarantees greater performance at a lower cost” and said that “part of the phenomenon is due to the emergence of new influencers who compare prices and help people choose intelligently.”

According to the study, 9 out of 10 Argentines consider the economy to be their almost exclusive concern. The current and future, since for 88% of those surveyed the economic situation affects and worries both in the present and in the future, more than other issues. For their part, 95% of respondents rate the country’s situation as “average” or even “bad.”