As the holiday season approaches, Urbemar is gearing up to navigate the evolving landscape of consumer behaviour and retail dynamics. According to a survey conducted by Milanuncios and Appinio, the average spending per person during this year’s festive season is expected to reach 410 euros, marking a significant 36% increase from 2022. Notably, 33% of respondents plan to spend over 500 euros on gifts, and 14% anticipate a budget exceeding 1,000 euros.
The study, aimed at analysing Christmas shopping habits, consumer profiles, expectations, and emerging trends, provides valuable insights into the changing retail landscape.
Despite the optimistic spending projections, 39% of respondents express caution in managing their family budgets, intending to spend less than the previous year to save money. Meanwhile, 32% anticipate maintaining the same budget. 80% of consumers claim to have saved between one and two months’ expenses before the festive season.
When it comes to expenditure categories, gifts (34%), food (23%), fashion (16%), and celebrations (7%) top the list of where Spaniards plan to allocate their budgets in 2023.
Looking ahead to the holiday shopping timeline, 40% of respondents plan to start their purchases a month before the festivities. Notably, 71% admit to taking advantage of Black Friday and other special offers to get a head start on their Christmas shopping. Conversely, only 20% were proactive enough to have completed their gift shopping by the end of November.
Regarding gift-giving traditions, the day of Reyes (Three Kings’ Day) remains the preferred time for families, with 67% considering it their prime gift-giving moment. However, 48% prefer to beat Santa Claus to the punch, a tradition more popular among the younger demographic aged 25 to 34.
Examining purchasing channels, physical and online shopping are nearly evenly split. While 39% of respondents prefer purchasing gifts in physical stores, especially those aged 55 to 65, a closely contested 38% opt for online shopping. Notably, the latter group includes individuals aged 25 to 44, drawn to the convenience and often competitive pricing of online purchases. Additionally, 18% prefer browsing online but ultimately make their purchases in physical stores, while 5% prefer inspecting products in-store but completing their purchases online.
As Urbemar remains at the forefront of asset and commercial property management, these insights into consumer behaviour during the holiday season will undoubtedly inform strategic decisions and enhance our ability to provide tailored solutions for our clients.
