Retail Consumer Insights: Spain

Retail Consumer Insights: Spain Summary This report provides detailed consumer insights into Spain's retail market. It focuses on the economy, consumer sentiment towards personal finances, cost pressures, offline retail, and online retail. Spanish consumers remain hopeful about their personal finances despite expecting the economy to worsen over the short term. Despite this, 59.0% plan to cut back on non-essential retail spending in the next six months, while essentials like food and health see less impact. Older generations, particularly Gen X and Boomers, are more pessimistic about economic prospects compared to the relatively optimistic Gen Z. In Spain, consumers are adapting to rising prices by shifting towards more cost-effective shopping habits, such as choosing retailer's own brands, switching to cheaper alternatives, and comparing prices online. Young Spaniards are particularly proactive in online price comparisons, while older adults favor own-brand products to stretch fixed incomes. Despite technological shifts, there is a strong trend towards supporting local businesses. Key Highlights - 77.7% of Spanish consumers show a clear preference for purchasing products online, highlighting a robust trend towards digital shopping in Spain. - Despite these uncertainties, the majority of Spanish consumers (71.4%) expect their finances to stay the same or improve, with just 28.6% of consumers anticipating that their financial situation will worsen. - In response to rising prices in Spain, 51.5% of females versus 48.5% of males are buying more of own-brand products, reflecting a stronger female drive for cost savings. Reasons to Buy - Understand how different demographics in Spain view the health of the economy over the next six months and their own personal finances - Discover consumer views about shopping in physical stores, including their views on self checkout, and how they see their shopping behavior changing in the short term (over the next three months) - Understand how important the online shopping experience is to Spanish consumers and their preferred social media website by age group - Learn about Spanish consumers’ perception of buying secondhand items versus selling used items by age group