The consumers who will spend the most are those of the Basque Country (632 euros), followed by those of the Community of Madrid (531 euros) and Andalusia (521 euros).
Spaniards plan to spend an average of €497 this Christmas in 2022, which is 5% less than last year, according to data from the fifth edition of Accenture’s annual Christmas shopping survey, which analyzes consumer habits and spending trends of Spaniards at Christmas.
Specifically, the report shows that 23% of consumers admit that price increases will force them to spend more money than they would like.
By region, the consumers who will spend the most will be those of the Basque Country (632 euros), followed by those of the Community of Madrid (531 euros) and Andalusia (521 euros), while those of Asturias (307 euros), Navarre (413 euros) and the Canary Islands (439 euros) plan to cut their spending.
Accenture’s General Manager of Retail in Spain, Portugal and Israel, Alberto Molina, explained that the “report reflects how inflation has impacted consumers’ budgets and as they plan their spending for Christmas they plan to reduce it compared to 2021 , also taking into account the projections of price increases for 2023 and the noise of a possible recession.
However, Spaniards look forward to Christmas, as 80% of those surveyed admit. In addition, 30% say they look forward to pampering themselves or giving gifts to family and friends, although 33% plan to cut back on those not in the immediate circle.
The survey data shows that most Christmas spending is on physical gifts. For example, 64% of the Spaniards surveyed will give away clothing and footwear and 59% will give some food. Half of consumers say they will choose beauty products or services, sportswear, toys or electronic devices, 48% for gift cards and 47% for travel. In addition, a third (29%) plan to buy virtual gifts to give to third parties.
In terms of where to shop this holiday season, 65% of Spaniards will do most of their shopping in brick-and-mortar stores. In addition, 12% of those surveyed plan to make purchases in the ‘metaverse’ and 72% are interested in visiting virtual stores during the Christmas season if offered by a well-known and trusted brand, as clothes and shoes are the most in demand .
On the other hand, distribution plays a key role in bringing in Spanish spending and the percentage of consumers expecting free and fast shipping on their ‘online’ purchases is constantly growing. For example, in 2022 it will already be 52%, while before the pandemic in 2019 it was 31%.
In this context, 25% of Spaniards are not satisfied with the increase in home deliveries, 23% are frustrated by delays in shipments, while 19% complain about slow deliveries.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
