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Spanish home shoppers are expected to spend around thirty billion euros by purchasing goods and services online during 2020, according to a report released over last weekend, a figure which accounts for 7% of Europe’s total.
Telecoming, a leader in European digital content economics and analysis, released the figures with a prediction that by 2024, the number would be closer to 37 billion euros.
The report, conducted by Juniper Research, revealed that at the turn of the year, purchases from the service sector, such as travel, leisure and subscriptions accounted for the majority of transactions.
However, as the coronavirus pandemic took hold, purchases of physical goods began to gain ground, particularly fashion items, footwear, accessories, technology, household appliances, food, sports goods and toys.
During the year to date, 735 million online transactions for the purchase of physical goods have taken place, which equates to an average of every member of the population of Spain making 31.2 purchases, compared to a European average of 26.3. The average spend per user is expected to be 1,252€ in 2020, predicted to rise to 1,420€ in 2024, representing an increase of 14%.
Sharing the information, TelecomingOperations Director, Robert Monge, confirmed the trend for purchases to be made via mobile phones and tablets, rather than more traditional devices, such as computers and laptops.
This movement is led by the younger generation of shoppers, is borne out by a revelation that 85% of Spanish 15-year-olds have already made their first online purchase of goods.
“The proportion of Spanish users who buy and pay for physical goods remotely from their mobile devices now stands at 26% and we estimate that this percentage will increase to 32.5% in 2024,” said Monge.
Spaniard’s embracement of shopping from their mobile phones is shown in figures revealing that both the amount of purchases and average spend per transaction are well above European and in the latter case global averages.
Another growth area in future years is expected to come via wallet payments from phone makers, such as Apple Pay, Google Pay and Samsung Pay.
Although at present these type of purchases only account for 5.2% of total transactions, this figure is predicted to rise to 12.6% by 2024.
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