Spaniards spend an average of 31.42 euros less on internet purchases than last year. This is what emerges from the report on the Status of Digital Payment Methods in Spainprepared by Monei, the Spanish fintech that simplifies and streamlines digital payments.
Specifically, it has been observed 32% drop in average shopping cart valuewhich has gone from 99.52 euros in the first quarter of 2022, compared to 68.10 euros in the same period of 2023.
Bizum maintains its growth trend in market share that we have been seeing since the first quarter of 2021, when it represented 16%. Thus, its development has been positive during all quarters, reaching 23.43% of transactions in the first three months of 2023. For its part, card payments decreased, but maintained its leadership with a 74.19% market share. in this first quarter of 2023, compared to 76.1% corresponding to the same period of 2022. PayPal continues to decrease from 7.8% a year ago, down to a discreet 2.32% so far in 2023.
Apple Pay continues to position itself as the first option of the digital wallets (5.95%), having grown almost 3 percentage points since the first quarter of 2022. Click to Pay, the one-click instant payment solution implemented by Visa and Mastercard, is the method that has grown the most since the first quarter of the year past until today (3.87% compared to the 1% it held in the same period of 2022). Google Pay has gone from occupying 1.3% of the market share in the first quarter of 2022, to 1.98% in the last year and same period.
The mobile phone, the favorite channel
He mobile phone is the channel preferred by Spaniards to make their purchases with 63.73%. These devices continue to gain market share, the first quarter of last year only added 57.01%. The suggestive increase in the use of mobile phones for online purchases is detrimental to the use of the tablet, which is disappearing, going from 2.19% in the first quarter of 2022 to 1.03% in the first quarter of 2023. On the other hand, the computer also presents a decreasing trend (has lost more than five points percentage in one year), although it continues to be the second favorite purchasing device for consumers, with a percentage of 35.24% in 2023.
Álex Saiz, founder and CEO of Monei, wanted to highlight the usefulness of this report as an x-ray of consumer habits in Spain, “With the highest inflation rate in Spain since 1985, consumers are adjusting their budget. In addition, every day they demand more digital solutions adapted to their needs and priorities. At Monei we remain at the forefront of new trends in order to respond to the real demands of consumers”.
To prepare this report, the company has analyzed more than 335,000 transactions carried out in e-commerce during the last year.
