Spaniards will spend an average of 217 euros on gifts
MADRID, 28 Nov. (EUROPA PRESS) –
68% of Spaniards acknowledge that they have changed their consumption habits this Christmas due to inflation, according to data from the survey carried out by PayPal.
Specifically, the report confirms that almost 60% of Spaniards have changed their Christmas traditions in the last two or three years due mainly to the increase in prices observed in recent years.
The study reveals that Spaniards are adopting new consumer habits that allow them to save or reduce costs without having to give up the Christmas spirit, which is why they are opting for second-hand gifts and ‘hand-made’ decorations to save.
In this way, Spaniards plan to spend 217 euros on average on gifts this year. Buying second-hand gifts appears as a new habit this season, especially for Millennials (16%). This is a growing trend globally, as more than a third of consumers expect to buy more second-hand products in the coming years.
On the other hand, the report shows that Spaniards are increasingly taking advantage of discount days such as ‘Black Friday’ or ‘Cyber ??Monday’, as well as sales campaigns to buy Christmas gifts, being the ones that have adopted the most this new habit Generation Z and Millennials (32%).
Along these lines, flexibility in payments and the ability to plan expenses also becomes a valuable tool for consumers when facing Christmas expenses. According to the survey, 21% plan to use flexible payment methods, such as ‘Buy Now, Pay Later’ solutions, during the holiday shopping season.
The director of PayPal Iberia, Beatriz Giménez, explained that “flexibility and ease of budgeting personal finances are some of the keys why these solutions are gaining more and more users in Spain.” “Our study revealed that 72% of Spanish consumers admit that these solutions allow them to purchase better quality products, and that they are even more likely to buy from a store again if it offers them this option,” she indicated.
