Spanish e-commerce survey: Social media commerce, buy now, pay later and other trends are changing consumption patterns!

In recent years, more and more consumers have chosen to shop online because it provides convenience and flexibility . The Spanish market is no exception. According to the E-commerce Index, e-commerce in Spain achieved a sales growth of 17% in 2022, which is nearly twice the EU data.

The survey shows that 55 % of Spanish consumers shop at least once a week , which is very close to the European average of 65% (2 out of every 3 consumers shop online every week). In addition, the average monthly spending of Spaniards on products and services is 252 euros.

In terms of product categories, Spanish consumers are more likely to buy clothing and accessories online ( 54%), food and beverages ( 44%), pay bills (39%), supermarket products (32%), and health and beauty items (33%). These data reflect consumers' preferences in terms of consumption.

The study also found that around 50% of respondents in Spain said they had used their mobile phones to shop , a figure that is in line with the European average. This figure shows that mobile phones have become the main channel for online shopping .

E-commerce trends in Spain

To increase e-commerce online sales, it is important to understand the trends among consumers. Therefore, let’s take a closer look at these trends and analyze how they are changing the e-commerce landscape in Spain.

1. Social media commerce is gaining traction

Social media commerce is becoming an increasingly attractive option for consumers. According to a survey by Paypal, 37% of respondents in Spain said they had made purchases through social platforms in the past 6 months , spending an average of 102 euros per month . Among the many social shopping platforms , the most popular are Instagram (15%), YouTube (14%) and Facebook (12%). Among the products that Spanish consumers buy most on social platforms , clothing and accessories top the list ( 31%), followed by health and beauty products (23%) and video games (22%).

2. The number of people choosing “ buy now, pay later ” is increasing

Buy now , pay later options have become increasingly popular in the e-commerce space in recent years . According to the E-Commerce Index report, apparel and accessories lead the way in categories with deferred payment options.

The report shows that platforms that offer buy now, pay later (BNPL) options are more likely to make a purchase than those that do not . In addition , this payment method is not only beneficial to consumers, but also to businesses, as businesses can increase their conversion rates and customer loyalty by offering payment options that suit customer needs. Providing BNPL services has become an increasingly important strategy for companies to remain competitive in the e-commerce market.

3. Providing possibilities for cross-border trade

E-commerce offers consumers and brands a range of possibilities to enter foreign markets, with more than a quarter of online purchases made from international retailers. Among Spanish consumers, 51% said they have made cross-border purchases, with the main motivations being the desire to get a better price and to purchase products not available on the domestic market.

Security is an important factor for buyers in this type of purchase , whether domestic or international. For this reason, reliable payment methods provide greater convenience and peace of mind for international transactions.

4. Cryptocurrencies, NFTs, and Metaspace

New trends in the digital world are changing the landscape of e-commerce. Although cryptocurrencies remain the most popular topic, they are currently somewhat undermined . 20% of consumers have already entered the virtual space or plan to join it in the near future . In addition, surprisingly, 14% of Spanish consumers believe that the virtual space will become an important shopping channel in the future.

On the other hand, although 23% of respondents are interested in learning more about NFTs, for now, NFTs have not received enough attention .

Spain

E-commerce