Spanish consumers are making fewer purchases as their purchasing power declines, according to Western media reports. The reduced frequency of purchases makes customer experience more important, and sellers need to be more cautious about negative reviews.
According to the report, 52 percent of Spanish consumers say they have had to reduce their spending by at least 25 percent, and 51 percent choose plans and get what they need in one purchase. Fifty-seven percent of consumers switched to weekly, while 34 percent opted to switch from the store they usually shop at to a cheaper option. Twenty-nine percent of consumers chose to reduce the number of products in their shopping cars and extend the life of items and food.
While 36 percent used Black Friday to shop, 80 percent focused on planning purchases and saving money, 49 percent of Spaniards said they tried to limit purchases of food as well as electricity and heating in order to reduce monthly payments and save for Christmas.
As for holiday gift-giving, 75 percent of Spaniards will spend less than 500 euros on Christmas shopping. Forty-seven percent of respondents said they would only buy gifts for their closest relatives, while 38 percent would only buy gifts for a few people.
Thirty-nine percent of consumers said they would not attend a holiday party, and 32 percent would think twice about doing so (due to higher gas prices). A very important factor for sellers to consider is the need to provide customers with a more valuable and interesting shopping experience.
Post time: Oct-11-2022