“Over the last two years, the consumption engine has stalled”explains Alexandre Bompard, CEO of Carrefour and president of the Federation of Commerce and Distribution (FCD), “because the French suffered a crazy hyperinflation shock”. Ils “buy fewer products” et “have given up on quality, organic, fruit and vegetables, fishmongers have collapsed”he reports. “Today, inflation is falling, but the shock is still there and the engine of consumption has not restarted.”
“In other geographies, including in countries similar to us, such as Spain, Italy, Belgium, consumption volumes have started to rise again while in France, they are still slightly negative and that says something. ‘state of mind of the French consumer’underlines Alexandre Bompard. “Associated with this, savings rates are at 17% in France, it is an extraordinarily high rate and it reflects the concern of the French consumer.”
“We must give purchasing power to the French, seek reductions when the prices of raw materials have fallen”still asserts Alexandre Bompard. “When wheat, sugar, olive oil fall, we must be able to obtain reductions from the major agri-food manufacturers”he said. The CEO of Carrefour also calls for agricultural raw materials to be “sanctuary”with a “necessary production cost” to mass distribution but which involves a “first negotiation [des agriculteurs] with industrialists”.
“The measures that have been announced” as part of the 2025 finance bill “are a head to tail of economic policy”also laments Alexandre Bompard. The boss of the distribution giant criticizes in particular the temporary tax increase that the government wants to impose on a few hundred companies. Alexandre Bompard is ironic about the temporary side, saying he can make a “list of so-called temporary taxes which have become permanent”. He also doesn’t seem convinced by the idea of a food check financed by VAT: “It’s a laudable intention, but I’m not sure that today we should tell the French that we are increasing taxes”he indicates. “I do not want to refer to taxation what is my mission, investing in food quality.”
France
