Purchasing Power in the Covid era
This year Spotzi teamed up with research company GfK to further improve the data offering of our Market Ready Dashboards. This partnership allows us to offer high quality data regarding demographics, purchasing power and consumer spending in all European countries and many other countries in the world. This allows you to develop a cross border data driven marketing strategy.
With new and powerful data our analysts couldn't wait to dive into the data. In this blog we highlight the Purchasing Power of Europe (Net Income after taxes). According to GfK's latest data, Europeans have an average of €13,894 per person available for spending and saving in 2020. This is a decline in Purchasing Power of 5.3 percent compared to 2019. Expressed in money an average person in Europe has €773 less to spend in 2020 compared to previous year. The map below shows the impact of Covid in Europe.
The map shows that eastern European countries are being affected the most. However we also notice Iceland, Spain and Norway have been impacted. The fact that Norway is also showing the highest drop in Purchasing Power is because their national currency devaluated against the euro. A country that is not part of the euro but has hardly been affected is Switzerland. Together with Liechtenstein they lead the top 10 in countries with the highest Purchasing Power. The list below shows the countries with the highest Purchasing Power per capita (per person):
Despite the fact that Iceland and Norway showed the highest drop in Purchasing Power they still belong to the European countries with the highest Purchasing Power. This shows the Covid effects are marginal.
The Purchasing Power Data comes with a subscription to Spotzi Insights. Spotzi Insights offers all the right tools to help you build the most targeted marketing campaigns possible. Each market ready dashboard offers the total number of inhabitants, the number of households and disposable income per postal code of one country of your choice. Firstly, by uploading your customer base in our Spotzi Insights Dashboards we will instantly show you the average disposable income of your customers. Secondly, we show you look-alike audiences to target. The result is a list of postal codes you can target. Defining your target audience is just as simple as drag and drop.
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