Austria: Buying and Selling
The GDP per capita (PPP) in Austria is estimated at USD 55,686 (World Bank, 2020). The average annual salary of a full-time employee is USD 53,132 (OECD). Austrian purchasing power is among the highest in Europe, and is distributed fairly homogenously among the country’s federal states (with Lower Austria having the highest purchasing power, and the area of the capital Vienna the lowest – GFK). The adjusted annual disposable income per inhabitant is approximately USD 37,001 (OECD). The Gini index is in the European average and the pay gap between men and women is 18.9% in Austria (one of the highest in Europe, where the average is 13%) (Eurostat 2020). Immigrants are also more likely to have lower wages and to be unemployed.
Brand loyalty depends on the quality of the products sold and value for money. More than 60% of Austrians with Internet access and are active on social networks allowing them to discover and learn about products thanks to user comments. Data protection is important for Austrians, and a non-profit has even filed a lawsuit against several big players (Apple, Amazon, Netflix, Spotify etc.).
Due to an ecological awareness and sustainability, organic and local products are increasingly in demand. The share of organic products in total purchases is among the highest in Europe. Fresh produce are generally preferred to packaged products. The second-hand market is developed on the internet, notably on the Willhaben, Locanto and Bazar sites. The use of collaborative platforms such as Uber or Airbnb are starting to grow but remain behind compared to other European countries.
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Latest Update: November 2024