Plum: Consumers Reduce Spending Due to High Prices

Consumers are constantly trying to reduce their expenses due to rising prices, according to data from Plum.

The catering sector has recorded a decline for five consecutive months, indicating that eating out is now considered a luxury.

The largest spending reductions in June, compared to May, were observed in the categories of personal care and fitness (-50%), catering (-50%), and clothing and accessories (-45%). Reductions were also recorded in bills (-41%), while smaller reductions were seen in supermarkets (-4%) and transportation (-23%).

Plum estimates that consumers may be awaiting summer sales or saving for vacations. At the same time, a more conscious attitude towards the budget is observed.

Marily Mitropoulou, Marketing Manager of Plum Greece, notes that Plum users are developing new habits and thinking more consciously about what is truly valuable.

Plum is one of the fastest-growing FinTech companies in Europe, helping its customers save, invest, and manage their money wisely.