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Christmas season shows strong consumer confidence in Finland

09/12/2010

Many households expect to spend at least the same amount of money on Christmas this year than one year ago, according to the Federation of Finnish Commerce.

The busy Christmas season retail trade in Finland shows that consumers are very confident of their financial situation, according to a survey commissioned by the Federation of Finnish Commerce. About 90% of households say they expect to spend at least the same amount of money on Christmas preparations this year compared to the same period one year ago.

Families in which the parents are employed or have their own businesses are expected to increase consumption the most during the Christmas period. According to the survey, they expect to spend more on groceries, children’s clothes, entertainment electronics and sports and leisure equipment than during the same period one year ago.

Households with two adults aged 26-45 and no children form another category that is ready spend significantly during the Christmas season. These households consume more alcohol, adults’ clothes, electronics such as computers and game consoles, jewellery and watches than the average household. They also expect to spend more money than normal during the Christmas period on groceries, electronics, adults’ clothes, alcohol and children’s clothes.

The data on consumers’ Christmas consumption plans is based on a questionnaire conducted by Innolink Research Oy for the Federation of Finnish Commerce, and the data on retail companies’ expectations is based on information from the members of the federation.

Source: The Federation of Finnish Commerce

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