Spain | Evolution of card spending in real time and high definition in Mar-22

Card spending up 39% YoY in March (53% in February). Progress was greater in the online channel (74%) than in the face-to-face channel (25%). The slowdown in growth was more pronounced in face-to-face purchases, especially with foreign cards.

Key points

• Key points:
• The road transport strike dampened the increase in consumption in the second half of the month, especially in person. Added to this is the base effect caused by the start of Holy Week on Mar-21, which distorted the year-on-year comparison in the last days of March and the first days of April.
• Spending growth lost momentum in all sectors, except food. The slowdown in consumption was greater in some services, such as accommodation, restaurants, travel and leisure, and in non-essential goods, such as sports, fashion and home equipment.
• The 7% YoY increase in the average ticket, driven by the rise in inflation, boosted card purchases in March. Growth was greater in the sectors most exposed to price increases and with a more inelastic demand, such as transport, food and department stores, and it slowed down in recreational activities, such as accommodation, leisure and restaurants.
• In-person spending increased in all provinces last month, but less than in February. The increase was greater in traditional and winter tourist destinations.

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