The Products Consumers Are Most Price-Conscious About

Despite the push-back against fast fashion, clothing and shoes are the product category that most people around the world are price-conscious about. Clothes and shoes were named as a purchase where low prices are particularly important by more respondents than any other category in 16 out of 18 countries surveyed by Statista Consumer Insights. In China, consumer electronics, defined by the survey as smartphones, TVs and music listening equipment, inspired the most price-consciousness followed by clothing.

In Japan, people are eyeing the price of food and drinks the most, followed by detergents and cleaning products. However, price-consciousness in Japan was generally low compared to other countries, with many product categories ranking quite close together according to the survey. Neighbor South Korea is also not very price-conscious in comparison, scoring the lowest Top 1 price concern at 34 percent of respondents saying low prices for clothing were of particular importance to them.

While ranking first in Japan, price-consciousness about food and non-alcoholic drinks ranked second in six European countries, including Germany, the UK and Finland. The latter country, known for its high overall price levels, showed the highest food price consciousness at 49 percent. This was surprisingly followed by France at 48 percent - rank 3, however, in the country that alongside neighbor Spain showed some of the highest price-consciousness in the survey overall and was only rivaled by developing countries Brazil and India. The low price of clothes was particularly important to 60 percent or more of respondents in these four countries.