Holiday spending: decrease, restraint, and intelligent purchasing

In the lead-up to this year's Christmas season, Spanish consumers are expected to adopt a more moderate, rational, and less impulsive shopping approach. This shift in consumer behaviour is in response to the current economic climate and the reduced budgets available for Christmas purchases.

According to a study by the Esade Consumption Observatory, the consumer who is mindful, thoughtful, and deliberate in their shopping decisions will be prevalent during the Christmas campaign. The study, co-authored by marketing professor Gerard Costa and Mireia Fernández-Ardèvol, suggests a more cautious and informed consumer behaviour during the festive season.

The study indicates a shift towards practical and budget-friendly gifts, with the Spanish Christmas shopping basket predominantly including practical gifts such as textile products and hardware products. In fact, 30% of the total Christmas budget is allocated to clothing and accessories purchases.

The Internet will serve as a tool for comparison, price checking, and seeking advice for Christmas purchases. Spanish consumers are increasingly relying on the Internet for their shopping needs, using it to compare prices, seek advice, and make informed decisions.

Social networks are also playing a significant role in the shopping process, with Spanish families using them as a meeting point to obtain advice before making their purchases. It is estimated that 15% of the total online purchases in Spain for the year will be made during the Christmas period.

However, the Christmas campaign is not optimistic for the fashion sector, as consumers continue to reduce their spending on gifts. The average Christmas campaign budget has decreased from an average of 900-1000 euros in 2007 to 650 euros. Spanish families are expected to reduce their spending on gifts by up to 40%.

The economic crisis has had a significant impact on consumption habits in Spain, with many consumers continuing with the saving attitude of recent years. Despite having a higher income level, a significant portion of the population continues to save rather than spend. This cautious approach to spending is likely to continue during the Christmas season.

Experts appreciate this shift towards less extravagance in Christmas purchases, as it reflects a more responsible and sustainable approach to consumption. The focus on practical and budget-friendly gifts is expected to continue in the coming years, as consumers prioritise value for money and practicality over luxury and excess.

In conclusion, the Spanish consumer is adopting a more mindful and deliberate approach to Christmas shopping this year, with a focus on practical and budget-friendly gifts. The Internet and social networks are playing a significant role in the shopping process, with consumers using them to compare prices, seek advice, and make informed decisions. The Christmas campaign is not optimistic for the fashion sector, as consumers continue to reduce their spending on gifts. The economic crisis has had a significant impact on consumption habits in Spain, and this cautious approach to spending is expected to continue in the coming years.