Finished Superbonus effect: first drop in consumption for the Italian home

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After 4 months of consecutive growth, Italians’ three-month purchasing intentions return to the levels of the beginning of the year with a drop of 8.4% compared to April. According to the analysis of the Findomestic Observatory in May carried out in collaboration with Eumetra, it is the “home” sector that determines this negative trend. The Superbonus effect seems to have ended: intentions to renovate the house are close to a drop of 20% (-19.4%), thermal insulation systems drop by 11.8% and condensing or biomass boilers by 9.2% .

Furniture was also down (-12.7%) which, however, confirmed its levels above the average of the last 12 months. Only photovoltaic systems (+11.9%) and fixtures (+4.4%) went against the trend. However, the “home” sector is not the only one to suffer a retreat in purchasing intentions: without a concrete prospect of new or revised incentives in the parameters, even new cars drop by 7% (electrified ones hold better at -1.4 %) and you use them 11%. Motor vehicles, a market in strong growth from 2021 to today, still show positive purchase intentions: +8.6%. The technology sector is smiling again after the general decline in the propensity to purchase (and in sales) recorded in the first quarter of the year. The intention to buy a tablet has reached its highest levels in a year now (+15.8% in the last month). The same goes for cameras (+18.8%) and telephony (+11.1%).

Even TVs, as noted by the Findomestic Observatory in May, gained 6.3%, while PC purchase intentions remained stable. Contrasting trends for the two segments of household appliances with small ones down by 6.3% and large ones up by 10.4%. The arrival of the warm season does not seem to offer a further boost to sports equipment and do-it-yourself, which remain substantially stable (the do-it-yourself business decreased slightly by 1.4%) on levels that are in any case high and above one year does. Small downsizing for intentions to buy an e-bike (-4.3%) after three months of consecutive growth. Many have already organized and purchased their own “holiday package” for the summer: in fact, in the survey conducted at the end of April, intentions to purchase trips halted their rise (-2.9%).

«The first few months of 2023 were marked by a recovery in the propensity to consume – declares Gilles Zeitoun, CEO and general manager of Findomestic – which was reflected in the actual purchases of durable goods, growing but still held back by a context that remains strong concern. The phenomenon of inflation remains the main concern in the country (6 responses out of 10 in our survey) and continues to influence spending behaviour, which remains marked by prudence. It is no coincidence that, with incomes growing less than the prices of consumer goods, in second place among the most perceived concerns (39% of preferences) we find that relating to the progressive decline in family purchasing power», concludes the manager.