The consumption, the engine that would have to pull recovery, is slowing down at this year starting by economic uncertainty, rise in prices, the increase in light and raw materials, among other factors. Consumer confidence is deteriorating (-3.3% in December), trade has closed 2021 slightly below what the sector expected (3.8%, against 4% planned) and the campaign of rebates of January has been a disappointment for merchants.
Sales in the month of December fell by almost 6% and this "responds to a slowdown of consumption, which keeps a direct relationship with the uncertainty caused by the health crisis and the instability of the markets themselves," they point out from the Confederation Spanish of Commerce (CEC).
"Companies and households are supporting serious inflationary tensions and are undoubted that they have a strong impact on their investment and consumption expectations. Above all, by the extraordinary growth of electricity prices and fuels, increases in raw materials And the problems generated in international logistics, "they point out from the Association of Large Distribution Companies, Anged, which brings together companies such as the English Court, Carrefour or Ikea, among others.
For Carlos Moreno-Figueroa, spokesman for CEC, households "are in a kind of impasse, expectation, to see what happens ... consumption is being resented, because in general there is a hasty, because the price rise is important and because the slope of January is being noticed. "
According to Rosario Pedrosa, Business Strategy and Marketing Manager of AECOC, the Association of Companies and Manufacturers of Great Consumption, "The economic context influences consumer habits and today 38% of consumers ensure that their expenses have to be more controlled because Its economy has worsened, and this is reflected in issues such as buyers look more at prices and promotions or even change brand if they find better offers. "
Households are redefining their purchase preferences, "they are recomposing their basket, becoming part of the strong increases in receipt of light or fuels by buying cheaper products, replacing some of others of lower value or delaying certain purchases, especially in Durable goods, personal equipment, "explain from Anged.
Moreno-Figueroa, which in addition to CEC spokesman is also president of FECEC (Spanish Federation of Appliance Traders), agrees that even in this sector, to which he has gone relatively well during the pandemic, it is also seen slowing down because the People now delay these purchases.
In addition, other factors that also contribute to this slowdown of consumption caused by inflation, "such as tax increases," denounce from Anged, which consider "very worrying the drift of fiscal policy undertaken by the government". "It will entail a strong tax rise, as we are already seeing, both for households and companies. The increase of taxes will undoubtedly not be neutral and can truncate the slow recovery of the activity," regret.
Two examples with a direct impact on the consumer are the rise of VAT to refreshing beverages and the Law of Waste. Only the tax for sugary drinks has raised half the price of refreshments and juice 9% since the introduction of the tribute. For the set of the iPC feeding and non-alcoholic beverages, the impact of the tax has been 4 tenth upwards.
In environmental matters, the sector criticizes rules with the draft waste law and the real container decree project, which may involve absolutely disproportionate costs for companies and citizens, if they do not adequately comply with European objectives. "
According to AECOC, 61% of consumers seek more offers and promotions, 34% change brands looking for better deals and 15% purchase less.Date Of Update: 01 February 2022, 23:23