Inflation and high costs continue to attract the attention of software opinion provider Capterra, which has released the second part of its study about the consumption habits that Spaniards have in the current economic context. The survey reveals that they change their purchasing behavior and are now looking for more discounts and loyalty programs.
Despite the positive outlook for the Spanish economy in 2023, there is a significant level of concern among citizens in the face of a possible recession. 49% of those surveyed admit to being very concerned, while another 43% express moderate concern.
This widespread concern has an impact on sales and consumer buying behavior. Moreover, the first part of the study revealed that 85% of consumers have changed their spending behavior as a result of the economic situation. Within this segment, more than half of those surveyed have reduced their expenses in areas such as food or clothing.
Online shopping as a savings channel
60% of Spanish consumers consider that online shopping is ideal for finding better deals during discount periods, like Black Friday or summer sales. The rest take advantage of them above all to look for promotions, see the full range of products and have flexible payment options. These preferences offer opportunities for companies to expand their online presence through e-commerce platforms.
The survey also reveals that a significant percentage of those surveyed, 63%, prefer to make face-to-face purchases to compare the quality of the products, while another 63% also opt for this modality. to acquire exactly what they need. In addition, 55% of those surveyed state that shopping in person is their favorite way to compare brands, products and retailers in search of lower prices.
The economic situation drives discount platforms and loyalty programs
Capterra also points to the growing use of second-hand platforms and apps, as well as the search for discounts and participation in loyalty programs as emerging trends in the market. One of the most outstanding data in this regard is that 26% of those surveyed have started to use second-hand platforms or applications due to the economic situation.
This reflects the growing popularity of the circular economy, with 86% of respondents to a previous Capterra study preferring to purchase products in this category. Another relevant fact is that 25% of those surveyed use platforms and applications to look for discounts, coupons and offers due to the current economic situation.
In addition, 23% admit to using loyalty programs in response to the economic situation. An effective loyalty strategy by brands, offering discounts and offers to customers, can significantly increase consumer engagement with the brand.
When asking users of online discount platforms and loyalty programs, the results reveal that 59% of consumers use marketplaces; 41% go to supplier websites; 39% use coupon and deal search websites; 35% use brand-specific mobile applications and 25% take advantage of the newsletters they receive by email.
Therefore, the current economic situation has prompted significant changes in consumer purchasing habits. The survey shows that 78% of the participants express levels of anxiety in the face of rising prices. Therefore, the adoption of second-hand platforms, the search for discounts and the participation in loyalty programs are key trends that companies must take into account to meet the changing needs of consumers.
