Economic uncertainty leads the Portuguese to a new practice – human resources

The purchasing decision-making process will be longer this year. During the shopping season, which begins with Online Shopping Day, on October 20, and continues until the end of the year, 77% of Portuguese will spend more time researching products and comparing prices in search of the best options. This is one of the main conclusions of a Google consumer survey conducted in Portugal in June.

This data tracks consumer loyalty towards brands. Almost half of Portuguese people (49%) are open to trying products from new companies in order to find cheaper brands (54%).

Despite the apparent economic pessimism of consumers, official data shows the opposite. According to the National Institute of Statistics (INE), the retail sector has shown growth in every month of 2023. Moreover, economic indicators are optimistic for the second half of the year, with an increase in private consumption expected in 2023.

To keep pace with the growth in consumption, digital will have greater importance in the purchasing decision, but without dispensing with the need to go to physical stores. According to the Smart Shopper 2023 study, 38% of Portuguese consumers have used new tools and technologies to get inspiration on what to buy in the past six months.

But despite this, consumers aren’t stopping going to stores to shop either, as 40% of those interviewed in Google’s consumer survey in June will buy from online and brick-and-mortar stores, revealing a more inclusive behaviour.

To help in the decision-making process, Portuguese not only look for product prices, but also look for reviews made by other consumers. Google Trends shows the evolution of the search for “reviews” in Google Search in Portugal compared to 2022 – a growth of 24%.

Although many consumers are open to new brands and experiences, it is also important to maintain their loyalty so that the experience does not end with just one purchase.

Important information to help maintain Portuguese loyalty is that 46% will wait for discounts and promotions, according to another Google consumer survey conducted in September this year. This means that brands can get ahead of the consumer. The faster brands communicate, the faster they can get consumers to buy.

What are the moments that the Portuguese choose for shopping? More than half of consumers (54.5%) choose sales to purchase a product, exceeding even the traditional end-of-year celebration, Christmas. As can be seen in the chart below, Black Friday is now a very important shopping date, as is Prime Day, which is on par with the now traditional Cyber ​​Monday.