68% of Spaniards acknowledge that they have changed their consumption habits this Christmas due to inflation, according to data from a survey conducted by PayPal. Specifically, the report confirms that Almost 60% of Spaniards have changed their Christmas traditions in the last two or three years due to rising prices. observed in recent years.
The study reveals that the Spanish are adoption of new consumer habits which allows them to save or reduce costs without having to give up the spirit of Christmas, so they choose second-hand gifts and ‘hand-made’ decorations to save money.
Thus, Spaniards plan to spend an average of 217 euros on gifts this year. Buying gifts second-hand appears to be a new habit these days, especially among Millennials (16%). This is a growing trend worldwide, 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 the Spaniards They make the most of discount days such as ‘Black Friday’ or ‘Cyber Monday’, as well as marketing campaigns to buy Christmas gifts, with Generation Z and Millennials being the most adopters of this new habit (32%).
In this line, The flexibility of payment and the ability to plan expenses have also become a valuable tool for consumers when dealing with 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 “The flexibility and ease of personal finance budgeting are some of the keys to why these solutions have gained so many users in Spain”. “Our study revealed that 72% of Spanish consumers admit that these solutions allow them to buy better quality products, and that they are more likely to buy from a store if they offer this option,” he said.