Inflation is affecting people’s health, leading to increased stress, smoking, and alcohol intake, according to a study of more than 1,000 people by Toluna’s Global Consumer Barometer.
Half of the respondents said the cost-of-living crisis is impacting their health. Nearly four in ten said they were feeling more stressed, 21% said they were eating less healthily, 16% said they were smoking more because of their economic situation, and 13% said they were drinking more alcohol.
Almost 75% said they were concerned with the current energy situation and the cost of electricity and gas while 23% of respondents said they were extremely concerned. Another 21% said they were very concerned.
The top three alternatives to reduce spending included eating out, purchasing cheaper alternatives, and ordering takeout. Sixty-one percent of respondents said they were putting off life expenditures until the economy stabilizes.
A quarter of those surveyed said they would visit more than one store to purchase at a value while 31% said they would compare prices online and offline. Forty-one percent said they would cut down on unnecessary purchases.
Senior Research Director Matt Booth said the impact of the elevated cost of living was beginning to show, and the financial woes were affecting personal health.
"Affordability, empathy, and support are key values right now that brands need to deliver through their actions rather than just words," said Booth.
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