Two thirds (66%) of Spanish brand owners anticipate a positive summer ahead, with no supply issues on the horizon, a new report from AECOC has found.
The AECOC Pulse of the Sector report found that a majority of brand owners closed the first quarter of the year with a positive increase in value sales, with 84% stating that they gave seen value sales rise.
Just under half (46%) noted that they have seen volume sales rise in the period.
According to AECOC's findings, Spanish firms are in a 'better position' than they were at this time last year, with 67% stating that they have met their planned objectives, and 25% adding that they have exceeded their sales expectations.
Household Purchasing Power
This positive trend has been boosted by the recovery of household purchasing power, with gross disposable income rising in recent months, which in turn has boosted consumption.
Furthermore, household debt is at its lowest level since 2001, AECOC noted.
Looking ahead to the coming months, 75% of brand owners said that their main priority is to boost sales, with 37% saying that they will be making increased efforts to curb the impact of inflation, and a similar percentage (37%) stating that they will look to promote innovation.
AECOC represents a wide spectrum of industries, including food and beverages, textiles, electrical, hardware and DIY, health, and hospitality. Its membership includes both large corporations and small to medium-sized enterprises.
With over 33,000 associated companies, AECOC's collective turnover accounts for nearly 25% of the national GDP.
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