Every 4th Estonian Unaccustomed to Euro, Survey Finds
Nearly two full years after Estonia made the switch to using the euro, a commercial bank survey has revealed every fourth resident is little or not at all accustomed to the new currency.
Eesti Päevaleht reported on December 27 that changing from Estonian kroons has not been a problem for urbanites on a higher income, but has posed issues for the unemployed and those living in the countryside.
According to a Swedbank study, people mostly think in kroons when dealing with large investments such as purchasing a vehicle or an apartment.
Close to 16,000 volunteers helped to carry out the monetary reform in 1992 when rubles were exchanged for the kroons. The event was highly anticipated and the emotional ties to this money were inevitable, as confirmed by Swedbank finances specialist Anne Kalberg-Sägi.
Grocery store chains Selver and Rimi displayed kroons alongside euros for a year. The Prisma chain held out for an additional year and will begin displaying euro-only prices this week.
Selver director, Andres Heinver told Eesti Päevaleht that he still sometimes compares euros to kroons, but then realizes the monetary value is no longer the same. According to Heinver, services such as hairdressers and dry cleaning rose the fastest after the euro was introduced.
Making payments by bank card is still a growing trend. Consumers have said that the euro coins are uncomfortable to carry around and it is easy to underestimate their value, making it more likely for them to be spent.
Just under a half of Swedbank's survey participants said they changed their shopping habits with the coming of the euro. Those that have say they pay more attention to prices, are more likely to seek out bargains and visit shops less frequently.