It is possible that we have been saving all year, controlling what we spend and looking for offers wherever we could in order to save a few dollars. But the truth is that, with the entry of Christmas, the savings are over.
As these dates approach, gift shopping, dinner with friends and business lunches also begin to arrive, even some take advantage of a trip or a short break. But do we know how much we Spaniards really spend on Christmas?
Will the current situation affect Christmas spending?
The truth is that one could think of the situation of political uncertainty that agitates the country may affect the desire to buy from the Spaniards, but nothing is further from the truth.
According to the study carried out by Deloitte, although the Spaniards are cautious regarding the global economic situation, being below the European average in relation to the positive perception of the macroeconomic situation, they are optimistic in relation to the family economy.
According to this study, 71% of Spaniards believe that this Christmas will have the same or more spending capacity than last year, 4 points above the average of other European countries surveyed.
When to buy Christmas gifts?
Although it is typical to see the stores full of people who have left for the last moment the purchase of gifts, more and more people are betting on being proactive and not leaving everything for the last day, when prices are higher and you buy anything with hurry, even more expensive.
Although December continues to be the preferred month of the Spaniards to make their Christmas purchases, the truth is that the month of November follows closely. The Black Friday campaign planned to attract 77% of Spanish consumers . During this day, it was estimated that the Spaniards would spend about $ 127, a figure that represents about 23% of their Christmas budget. In addition, young people between 18 and 34, are the ones who took advantage of this day of discounts.
Christmas spending forecast 2019
According to the study carried out by Deloitte, the estimate of the expenditure of the Spaniards this Christmas has increased 2.4% compared to the real expenditure of last year.
Company dinners, family meals and outings with friends are still the most important activities for Spaniards when this time comes. In fact, the part of Christmas spending dedicated to leisure is the one that most increases this Christmas.
Spain is above the average of the European countries surveyed in intention to spend. European consumers are expected to spend an average of $ 461, 3% more than last year, while Spanish households have a budget of $ 554 for this Christmas.
Where will we buy this Christmas?
Despite the boom that online channels are having in recent years to make purchases, the Spanish prefer to buy their gifts in fixed stores. Especially in department stores, which continue in first position as a star surface for Christmas shopping.
However, this does not mean that online channels are left behind, but quite the opposite. More and more stores and businesses are betting on promoting themselves through the web and offering their customers the possibility to buy their products from the comfort of their home. This is why the purchase intention through the online channel continues to grow and represents 28% of the total budget.
Linked to where we will buy comes how we will pay for our Christmas gifts. The debit card has been consolidated as the payment method preferred by the Spaniards for all their purchases, whether online or in a physical store.
If you are one of those who prefer to finance Christmas with your credit card, we recommend you always keep in mind what the limit of your card is, in this way you will avoid overflowing and that extra Christmas does not affect your personal economy. Credit cards are a very useful form of payment, but it is always advisable to use them responsibly.