Experts in results
Despite inflation, consumers in Madrid were willing to take advantage of the sales this summer. Without a doubt, sales should be part of your marketing strategy.
Spanish consumers, especially those in Madrid, welcomed the summer sales. Despite this year's inflation, the people of Madrid took advantage of this period to make purchases.
The different businesses know that this is an excellent opportunity to increase their sales, so they begin to to offer the discounted products between 21 June and 01 July each year.
Some retailers in Madrid are bringing forward the start date of the summer sales with the idea of being the first to attract customers. Especially online retailers, who are aware of the growth of online sales, are delving into different marketing strategies to achieve their commercial objectives.
Excellent marketing strategies are essential for retailers during this important time of year. A Global Agency points out that the aim of marketing is "lleWe can help them to make a purchase, offering them valuable information and accompanying them throughout the process to solve their needs"..
Each retailer has specific objectives and must make the most of this period to increase sales. In fact, Cartsguru points out that the sales period is an opportune time for ".to boost sales, increase turnover, reduce stock and dispose of products from previous seasons".
The sales periods are profitable periods for businesses. IeBS after interviewing 1,500 internet users, indicates that during sales periods, a large proportion of them make their purchases. They indicate that 59.6% spend during the sales period, 33.2% spend during Christmas and 21.3% spend during Black Friday.
Among the challenges for Madrid's retailers is obviously to sell as many products or services as possible, but also to take advantage of the opportunity to gain reputation and positioning in online sales.
Market research on consumption and summer sales in the Madrid region conducted by eXprimeNet
In the study of market in Madrid, on consumption and summer sales, interesting results were obtained. It is worth mentioning that the population surveyed through social networks was 1007 users over 16 years old and over 60 years old.
Some of the results are shown below:
- This summer sales period represents an opportunity that was seized by 94% of Madrid consumers.
- By the first half of July, 40% of respondents had already spent during the summer sales.
- 64% of Madrid consumers would spend the same as in 2021. Specifically, 40% would spend less than €100, 36% estimated spending between €100 and €200, 13% between €200 and €300 and 11% more than €300.
- For 82% of the respondents this period offers great opportunities and 54% consider that these opportunities lie in online shops.
- For Madrilenians, their purchases are not impulse purchases, as 83% of the population said they bought what they needed. However, the segment where they make the most purchases is precisely fashion and accessories. Table A. shows how much the population spent in some segments.
|38%||Fashion and accessories|
|7%||Sport and Health|
|3%||Reading, Music and video games|
|4%||Perfumery and Beauty|
Table A. Population and segments where the Madrid consumer spends
- The most searched brands on Google by internet users in Madrid during the summer sales are: Women Secret, Birkenstock, Benetton, Massimo Dutti, Adolfo Dominguez, Zara, Mango, Stradivarius, Parfois, Oysho, Scalpers, Calzedonia, Desigual, Zalando and El Corte Inglés.
The study undoubtedly provides valuable input for the design of the marketing strategy of the different shops. The willingness of the majority of Madrilenians to spend during the summer sales period can be clearly seen.
This is an important variable to consider when it comes to boosting sales, building customer loyalty and attracting new customers.