Greece believes in austerity—when it comes to coupons

Shoppers in weaker economies are more enthusiastic coupon-clippers, a new Nielsen survey finds

 
Someone clipping coupons
(Vstock/Getty)

Greeks might hate austerity measures from their government, but they’ve embraced frugality in their own homes. Nine-in-ten residents of the indebted nation say they make a point of reading store flyers and clipping coupons, compared with 60% of European shoppers overall, according to a new report from Nielsen.

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This thriftiness is hardly surprising, particularly in a nation with a 26.6% unemployment rate—a statistic that rises to 51.9% for young people. Coupon clipping appears to be a fairly accurate reflection of a country’s economic might, with surging economies, like Ireland, seeing lower frugality rates than struggling ones like Italy.

One nation where there’s a disconnect? Austria, which has a below-average economy but only average affinity for coupons. Overall, consumer confidence in Europe remains low, but bargain goods aren’t the top priority for shoppers. Nielsen found that European consumers chose a store based on how easy it is to find goods, followed by stores that “provide an enjoyable shopping experience.” Offering products that offer good value for money came third for shoppers when they selected their grocery store.

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