Holiday spending: shrinkage, restraint, and intelligent purchasing

In the upcoming Christmas campaign, Spanish consumers are expected to prioritise practical gifts, such as textile products and hardware items, as they adopt a more thoughtful and moderate approach to their shopping.

According to a study conducted by the Esade Consumption Observatory, consumption habits in Spain have changed significantly. The study, co-authored by marketing professor Gerard Costa, reveals that Spanish shoppers are increasingly relying on the Internet for their shopping needs during the festive season.

The Internet will serve as a tool for comparison, price checking, and social interaction for a significant portion of Christmas shoppers in Spain. Spanish shoppers are expected to use social networks as a meeting point to obtain advice before making their purchases.

The study also shows that the average spending of a Spanish family during the Christmas campaign has decreased from the 2007 figure of between 900 euros and 1,000 euros, to a more modest 650 euros in recent years. This reduction in spending is attributed to consumers' lack of trust in the economic recovery.

Despite some families having higher incomes, a saving attitude remains a persistent trend. The search results do not provide a specific identified number or percentage of families who have maintained their saving behaviour from previous years.

However, the Christmas campaign is not optimistic for the Spanish retail sector, with Spanish shoppers expected to reduce their spending on gifts by up to 40%. Fashion will be one of the least affected sectors, as 30% of the total budget will be allocated to clothing and accessory purchases.

The current Spanish consumer is more moderate due to the crisis and less impulsive. This means that the consumer who compares, thinks, and acts will be a prominent shopper during the Christmas campaign in Spain.

Interestingly, 15% of the total online purchases in Spain for the year will be made during the Christmas period. This underscores the growing importance of online shopping in Spain, particularly during the festive season.

In conclusion, Spanish consumers are leveraging the Internet for a more informed and thoughtful approach to their Christmas purchases, reflecting a shift towards practicality and moderation in their spending habits.