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ARCHIVED - Frugal festivities: people will spend 5 per cent less on Christmas shopping in Spain this year
The average shopper in Spain will fork out 497 euros at Christmas this year
It looks set to be one of the leanest Yuletide seasons in recent history as most people struggle to tighten their belts to cope with ever-increasing costs of fuel, electricity and food. Although inflation in Spain dropped significantly last month, a trend which the experts believe will extend into the new year, research shows that shoppers are still planning to spend a lot less this Christmas.
Data released in the fifth edition of Accenture's annual Christmas shopping survey indicates that the annual Spaniard intends to fork out a maximum of 497 euros in 2022, 5% less than this time last year. And even with this reduction in spending, 23% of people will still end up paying more than they’d like for presents and the Christmas spread due to price increases.
Most likely to splash the cash are those living in the Basque Country, who will invest 632 euros in celebrating the festive season, followed by Madrid (531 euros) and Andalucia (521).
The most frugal consumers are to be found in Asturias, with an average spend on Christmas 2022 of just 307 euros, followed by Navarra (413 euros) and the Canary Islands (439 euros).
Despite the inevitable squeeze on our wallets this year, 80% of the people surveyed said they are looking forward to Christmas. But while 30% admitted to being excited about treating themselves or buying special gifts for loved ones, a further 33% plan to cut the budget for those outside their close circle.
Accenture's managing director of Retail in Spain, Portugal and Israel, Alberto Molina, explained that the "report reflects how inflation has impacted consumer budgets and when planning spending for Christmas they plan to reduce it compared to 2021, also taking into account the price increase forecasts for 2023 and the noise of a possible recession.”
Image: Pixabay
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