Europe: As the prices are significantly increasing amidst high inflation, citizens living near Belgium’s borders often head to neighboring nations to save money on shopping, which experts believe is taking its toll on the Belgian economy.
Shopping on Border is more popular than ever, as per retail expert Jorg Snoeck. As inflation is hitting consumers’ wallets, the perception that life abroad is up to 10 percent cheaper drives people all over the Border, Snoeck shared the information.
“I expert that the shortage of raw materials due to the war in Ukraine will increase the phenomenon of border shopping in the autumn. That will drive up further.”
Snoeck added to the statement, “A country can be cheap for some products, but expensive for others.” In the Netherlands, products like pampers, daily, electronics and coffee are cheaper, but meat products have higher prices and lower quality.
Moreover, in France, on the other hand, meat, wine and cosmetics are more affordable, while avoiding do-it-yourself products, vegetables, and fruit is better. In Germany, people can save on electronics, detergents, bicycles and clothing, but soft drinks and bottled water are more expensive. At the same time, Luxembourg is the place to buy cheap spirits, cigarettes and fuel.
The experts are keen to highlight that border shopping also damages the Belgian economy. Trade federation Comeos calculated that it costs the nation €2,65 billion per year and that it is at the expense of 15,000 jobs.
While certain products may be cheaper abroad, others cost more than in Belgium. “As a result, the advantage of border shopping for your weekly purchases is minimal,” Snoeck stated. However, it starts to pay off if you buy products that are cheaper abroad and stock them in large quantities, so you don’t need to cross the Border as often.
