The sentiment of Polish consumers continues to be negative. In October, the GfK Consumer Sentiment Indicator rose by 0.2% compared to the previous month but is still at a very low level of -20.1.

Although the results are low in Poland, the average indicator for the European Union shows an even lower level of -28.9.

As Artur Noga-Bogomilski, Head of Market Intelligence at GfK, explains, the slightly better indicator in October compared to September remains within the limits of statistical error.

“The key and more authoritative measure is the average of the last few months, which clearly shows that consumer sentiment is bad”, says Noga-Bogomilski. In his opinion, the mood is likely to be even worse in the coming months.

“We are facing a further increase in inflation, which may not stop at 20%, and the threat of a winter energy crisis. We are facing a period of anticipation and great uncertainty, which Polish consumers are preparing for very maturely. The development of smart shopping and an even greater focus on belt-tightening can be seen in purchasing decisions. For the moment, however, we are not seeing a panic effect among buyers. Poles are waiting for what is to come and expect it to be more difficult than before”, he adds.

In terms of the gender division for October this year, the worse mood persists among women (-22.5). This compares with an average of -17.5 among men.

No significant differences in consumer sentiment can be seen in the division by place of residence, but a large disparity appears in the division by level of education. GfK recorded the best sentiments among consumers with primary education (-7.3) and the worst among those with a university degree (-27.9).

Adrian Andrzejewski