There is still a significant amount of savings that consumers accumulated during the pandemic and that have not been spent for fear of inflation and a crisis that, for the moment, is not as apocalyptic as some predicted. In fact, inflation in Spain is contained while the economy and employment are growing, which encourages people to spend more.
Prices are not growing at the same rate as they used to . Ahem, okay, except for olive oil, which at this rate will become the fashionable perfume this Christmas. Smelling like fried food is going to be el salvador number data synonymous with luxury. But in general, the prices of products that are usually given as gifts at Christmas have not skyrocketed.
The more people working, the more money there is to spend. Allowing for rent and mortgages, of course.
There is a broad consensus that interest rate increases have peaked. If the ECB does not raise them again this year, it will be another sign of stability .
All of this means that we can be moderately optimistic about the Black Friday and Christmas campaign in eCommerce this 2023.