Parents report social media pressure
Interest in sustainability is motivating half of Europe’s parents to limit their spending, according to Intrum’s annual European Consumer Payment Report – a snapshot of consumer views on debt, credit and finance.
According to Intrum's annual European Consumer Payment Report, a snapshot of consumer views on debt, credit and finance, parents across Europe report of social media pressure.
In three-quarters of the 24 European countries surveyed, parenthood goes hand in hand with concern about sustainability – with parents more likely than non-parents to say they are limiting their spending.
Motivated by sustainability
Parents in Romania, Portugal and Italy are most motivated by sustainability. In Romania, 71 percent said this interest is causing them to limit their consumption.
My interest in sustainability has motivated me to limit my spending (agree):
Social media impact
However, social media can work both ways when it comes to spending. While 39 percent of Europe’s parents said social media had made them more aware of buying goods that are ethical and sustainable, almost half feel pressured by social media to consume more than they should. This pressure is particularly high in Portugal, Romania and the Czech Republic.
Social media has increased my awareness of buying goods that are ethical/sustainable (agree):
Social media creates a pressure to consume more than I should (agree):
It is not the case everywhere in Europe. Less than a third of Estonia, France and Hungary’s parents said they feel this pressure to spend.
Meanwhile, European Central Bank figures show spending has been suppressed during the pandemic, with uncertainty over how much of a rebound effect there could be as countries relax their restrictions.