Spain | Impact of COVID-19 on consumption in real time and high frequency: 25 June

Summary

The recovery in consumption continued during the last week of the state of alarm. The fall in card spending, which was over -60% year-on-year in mid-April, moderated to -4% between 15 and 21 June due to the 5% growth in purchases with Spanish cards.

Key points

• Key points:
• Purchases with Spanish cards grew in 42 provinces. The most advanced in the de-escalation registered greater advances in spending.
• In Galicia, which started the week in a situation of 'new normality', spending grew more than 10% year-on-year. On the contrary, the provinces that were still in phase 2 on 15 June continued to lag behind.
• Spending with Spanish cards was 9% higher than before the health crisis. Ninety percent of the provinces recovered their pre-COVID-19 figures in the week 15-21 June.
• The food and household equipment sectors continued to lead the recovery in face-to-face spending (44% year-on-year in both cases), accompanied by health (18%), other services (14%), department stores (13%) and technology (12%). In person purchases of food and household equipment have boosted spending above pre-COVID-19 figures.
• E-commerce continued to fall sharply. The weight of online spending has been reduced to 15% of the total, compared to 18% in 2019. Although Internet spending on household equipment, cars, department stores and food is more than 40% higher than pre-COVID-19 figures, e-commerce has not recovered to its pre-crisis level, which was hampered by the accommodation and travel sectors.

Geographies

Topics

Tags