The black campaign encouraged consumption in Spain despite inflation and rising interest rates.
According to CaixaBank Research's consumption monitor, card spending on online purchases grew by 18% in the third week of November compared to the same period of the previous year. The price reductions during this campaign, whose central day was Friday, November 24, did not only encourage e-commerce. In-person consumption also grew by 7.3% year-on-year during this week. The payment processor Redsys confirmed the increase in spending during that day on Friday. "We will surpass the historical record with 65 million transactions, 15% more than the black of the previous year and with peaks of 85,000 transactions per minute", assured the company through a statement on social networks.
According to the CaixaBank Research report, the categories that recorded the most increases during the third week of November were leisure and catering, with an increase of 15% compared to the same period of the previous year, followed by premium goods need, with an increase of 11%. On the contrary, the retail trade category registered a slight decrease, of -1.4%, after accumulating two weeks of growth (of 13% in the first week of November and of 4% in the second week). Expenditure in the tourism segment also registered a slight decrease, of -0.5%, in line with the previous weeks of November and October.
This increase in spending, especially on the internet, confirms the start of the Christmas campaign. According to a survey by the Aecoc association, half of Spanish consumers anticipated their Christmas shopping by taking advantage of the black discount campaign. This commercial promotion also increased installment or installment payment services. According to data from the Sequra platform, which provides these services in Europe, operations of this type increased by 25% if the results are compared with those of the same month of the previous year. Price inflation and rising interest rates have reduced the purchasing power of households, and this type of installment payment service encourages consumption, as it offers families more flexibility.
Despite the increase in spending, the black campaign is viewed with suspicion by the small business sector. The employers' association Pime Comerç distanced itself from these promotions with a campaign encouraging local consumption throughout Catalonia. In the world of work there were also movements against it. Specifically, from the Amazon España group workforce, who denounced the conditions they have to endure during these days of increased workload. With the support of the CC.OO. union, the staff called a strike for November 27 and 28. After negotiations with the company, the strike was partially called off and only the small centres, specialized in last-mile logistics, finally carried it out.
