63% of Spaniards acknowledge that they consume 'low cost' products

Ryanair (20%), Primark (18%) and Vueling (9%), the companies most recognized in the 'low cost' by the Spanish

MADRID, 23 May. (EUROPA PRESS) -

63% of Spaniards acknowledge that they consume 'low cost' products, according to the study of 'European Consumption of the Cetelem Observatory', which analyzes European consumption habits.

Specifically, the report confirms that 'low cost' is a consolidated reality for consumers in Europe, since 90% of Europeans say they have heard of this concept, while 55% know exactly what it means in the practice, and in southern European countries, such as Spain, Italy or Portugal, the figures reach 80%.

In the case of Spain, 82% of those surveyed know what 'low cost' is, far exceeding the European average of 55%, and together with Portugal (81%) and Italy (80%), Spain is one of the countries that are most familiar with this concept, figures that contrast with countries such as Poland (21%), Austria (25%) or Slovakia (28%).

In addition, 64% of Spaniards consider that the market for 'low cost' products and services is developed in their country, a percentage also higher than the European average (60%).

In this way and in an inflationary context, the majority of the Europeans surveyed associate this term with 'low prices', 'promotions', 'savings', or 'good value for money'.

For 83% of Europeans, buying this type of product is a good option to increase purchasing power. The country with the best perception of this type of product is Romania, with 7.3 points, compared to Austria and France, which are the countries that question it the most, with 5.8 and 5.9 respectively.

For its part, Spain ranks along with Portugal as the fourth country with the highest acceptance with 6.8 points, which is 0.3 points more than the European average.

On the other hand, for 60% of Europeans, price is the main factor for choosing a low-cost product. 77% consider that it is a good solution to consume more and 54% consume them regularly.

Only 26% of the Europeans surveyed consider that these types of products are devaluing, a figure that in Spain is ten points below, with 16%, and 55% consume 'low cost' by choice, compared to a 59% in Spain.

In this way, more than four out of 10 Europeans intend to increase their 'low cost' consumption in the near future, while in Spain this intention stands at 43%.

By sectors, textiles, food and air are the most recognized in the 'low cost'. Thus, Lidl (16%), Ryanair (14%) and Aldi (11%), are the three companies most mentioned by Europeans that symbolize 'low cost', while in Spain, Ryanair (20%) is the one that most mentions it receives, followed by Primark (18%) and Vueling (9%).