Consumption in Spain grew 1.2% on average during the de-escalation although in phase 3 it fell 7.2% compared to previous weeks. This is revealed by the report “Post Covid-19: The phases of consumption” published this Monday by the Spanish fintech Bnext and, according to which, in addition, During phase 0 consumption increased by 2.1% compared to the previous week with an increase of 55% in terms of spending on the acquisition of sports equipment and more than 27% in gasoline consumption compared to the previous week.
By age, those who increased their expenses the most were people between 40 and 49 years old, followed by the elderly between 60 and 69 years old, while those who reduced it the most were those in their twenties.
During phase 1, consumption contracted 7% on average according to the study despite the fact that spending on optics increased more than 63% on average and that dedicated to transport and travel increased by 13% and almost 30%, respectively. By age, Spaniards between 60 and 69 years old were the ones who spent the most in both categories, with 66% on travel and 53% on transport, compared to young people between 20 and 29 years old, whose expenditure was 20 % and almost 13%, respectively.
Spending on beauty decreased to 8.4% and food contracted by 7.6%, while fashion purchases fell 0.3%. Spaniards between 30 and 39 years old were the ones who reduced spending the most (-5%) in this chapter, while in the beauty category it was people between 50 and 59 who cut their budget the most, by 25%.
With respect to phase 2From May 25 to June 7, consumption increased, on average, by 17.4% and transport spending experienced a growth of 200% compared to the previous period. Spaniards between 50 and 59 years old spent the most on this item, just over 33% on average, while young people between 20 and 29 years old reduced their spending by 0.3% on average.
Along with this, Spaniards dedicated 32% of spending to the leisure chapter, with those aged between 60 and 69 spending the most money on this item (39%) compared to young people between 30 and 39 years of age, who they barely dedicated 8%. With regard to spending on food delivered to the home, it stood, on average, at 27%, with growth in all age ranges and the area of food grew in this new phase by an average of 2.5% and the fashion spending averaged around 27%. Those who spent the most were consumers between 40 and 49 years of age, who allocated 37% of their budget to this item, compared to those aged between 60 and 69, whose average expenditure was around 14%.
Starting June 8, with more than half of the Spanish population in phase 3, consumption decreased 7.2% on average compared to the previous weeks and spending on optics was the item that registered the most growth, with 42% on average, followed by transport, with 39% and leisure, with a average of 29%. By age, the Spaniards between 60 and 69 years old were the ones who spent the most on transport and events, while those aged around fifty years spent the most on optics.
On the contrary, the items in which spending fell the most were food, culture and beauty, which fell by almost 10% on average. The thirty-year-olds were the ones who cut the average in food and culture spending the most, while the Spaniards between the ages of 20 and 29 were the least invested in beauty.