Spain | Impact of COVID-19 on consumption in real time and high definition in Dec-21

Summary

Card purchases in Dec-21 were 38% higher than in the same period of 2019, 2 points lower than in November (31% YoY). The slowdown in spending with foreign cards, both face-to-face (4%) and online (-35%), offset the increase in transactions with Spanish cards.

Key points

• Key points:
• Spanish card transactions picked up in the days leading up to Christmas, but the worsening health crisis reduced purchases with foreign cards.
• Other services, food and health led the increase in card spending, while accommodation, beauty, fashion and travel did not reach pre-crisis levels. The sixth wave of the COVID-19 pandemic dampened card purchases in the social consumption sectors, such as leisure, restaurants, sports and travel, especially in the face-to-face channel, but increased them in the health sector.
• In 2021, card purchases grew 27% compared to 2019 (33% ToT). The rise in online spending outpaced that of face-to-face consumption. Although foreign card transactions and cash withdrawals rebounded last year, they remained below pre-crisis figures.

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