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Over Two Thirds Of Spanish Households Seeking To Save In Face Of Economic Uncertainty

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Over Two Thirds Of Spanish Households Seeking To Save In Face Of Economic Uncertainty

Spanish cooperative Consum has said that more than two thirds (68.6%) of Spanish households are seeking to save money in the face of growing economic uncertainty.

This is five points higher than in 2021, according to a report by Kantar, which was shared at Consum’s Encuentros DecirHaciendo conference in Valencia.

At the event, the cooperative gathered different professionals to discuss the topic of ‘ahorrar en tiempos de incertidumbre’ (saving during uncertain times).

Bernardo Rodilla, retail business director at Kantar, said that prices have risen by 12.7%, in spite of manufacturers and retailers’ efforts to minimise inflation. In 50% of grocery categories, price increases are lower than 8%, he added.

He added that food waste from Spanish households has also decreased, by 12.3%, due to the current inflationary enviroment.

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However, Rodilla stated 72% of consumers consider other elements besides price.

Helping Shoppers Save Money

“We work on solutions to help shoppers economise, adapted to customers’ consumption habits," said Ricardo Marí, Consum’s customer and marketing director.

Marí added that Consum has helped families save through discounts and voucher campaigns, as well as its Profit donation programme.

“It’s essential to focus on people, our customers and workers, to create a good quality service. For Consum, it is important to be socially aware and aid vulnerable groups in need”, added Marí.

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The balance between companies and formats, high investment and recruitment, and low corporate concentration, has positioned Spanish retail as one of the most efficient in Europe, with prices below EU’s average, stated Felipe Medina, ASEDAS’ technical general secretary.

Inflation Has Changed Consumption Habits

“Some 73% of our community didn’t compare prices in different supermarkets before inflation, and now 47% admit to have changed their habits due to price increases.” stated Mapi Amela, Ahorradoras.com founder.

As she explained, in seeking to save money, 40% of costumers avail of supermarket offers, 30% buy discounted close-to-expiration SKUs, and 23% join loyalty programmes.

“Consumers are getting interested in conscious purchases, appreciating quality at best price, and comparing and buying only what they need”, added Amela.

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Local Purchasing

Elsewhere, Consum has announced it will acquire more than 20,000 tonnes of citrus products from across the country during the 2022-23 campaign, a 9% increase on the previous year.

The cooperative said that 90% of the oranges and tangerines sold at its supermarkets are sourced from Valencia.

Among the varieties sourced from Valencia are Navelina, Navel and Navelate orange oranges, and Orogros, Oronules, Clemenules, Clemenvillas, Nadorcot, Tango, Ortanique and Orri tangerines.

In addition, it has purchased a total of 3,000 tonnes of Primofiori lemons, and 500,000 kilograms of Star Ruby grapefruit, both sourced from the Murcia region.

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Consum has said that it plans to support local produce certified with the PGI ‘Cítricos Valencianos’ (citrus from Valencia) quality seal, campaign that starts at the beginning of November.

© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Amanda Merchán. Click subscribe to sign up to ESM: European Supermarket Magazine.

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