In the fourth quarter of last year, consumers painted a more negative picture of the country's economic environment, which translates into a drop in the Panorama by Kantar Index, the indicator that measures Spanish consumer confidence. Although a slight improvement is observed in the general economic expectations of the country, the perception of uncertainty persists, which slows down a clear and sustained optimism.
The macroeconomic context in the Eurozone also reflects this ambivalence. According to recent data from the European Commission, the Economic Sentiment Index (ESI) has also shown a slight drop in recent months, reflecting a growing concern among European households about inflation, the cost of living and the monetary policy of the European Central Bank. In this context, Spanish consumers are beginning to show greater suspicion towards the economic future both nationally and European.
This uncertainty translates into a negative trend in many of the indicators, with consumers adopting a more cautious stance. The assessment of the country's economic situation continues to register a slight downward trend, while households are especially cautious with their personal economy. This prudence intensifies in comparison with other quarters of the year, marking a relevant turning point.
Beauty and personal care products are the subcategory that has grown the most in purchase intention, positioning themselves as an opportunity perceived by consumers
Despite this scenario, there are signs of dynamism in certain sectors. The basic consumption basket, which includes food, drugstore and household cleaning, fashion and accessories, and beauty and personal care products, shows a positive behavior. In fact, beauty and personal care products are the subcategory that has grown the most in purchase intention, positioning themselves as an opportunity perceived by consumers.
Although Spanish consumer confidence presents a slight drop and the environment continues to be dominated by uncertainty, certain consumption categories resist and, in some cases, thrive. The evolution of the next quarters will depend to a large extent on the stability of prices, the decisions of the ECB and the perception of households about their future economic security.