Turnover in the Finnish retail sector during the Christmas season is expected to remain at the same level as last year, according to a forecast by the Federation of Finnish Commerce. The federation represents about 7000 member companies in the retail sector.
December is the most important season for the retail sector in Finland. Christmas shopping boosts retail trade turnover by more than a quarter compared to an average month. Sales in department stores can increase by almost 60% in December or even double in some specialty sectors.
For example, the sales of watches, jewellery and other jeweller’s shop products go up by more than 130% compared to normal monthly sales figures. Christmas sales account for as much as a fifth of the annual sales for jeweller’s shops. Christmas is also important for bookshops because their sales double during December.
Finns buy from foreign web stores
The approaching Christmas season is also visible in Google web searches. According to Google’s statistics, the final quarter of the year is the hottest period for searches in some product categories.
A consumer survey by the Federation of Finnish Commerce reveals that slightly over a quarter of Finnish consumers have already decided where to do their Christmas shopping, while almost half are still undecided. From those committed to online shopping, 44% plan to make purchases from foreign web stores. The most likely Finnish consumers to visit foreign web stores are men under 40 years of age.
Source: Federation of Finnish Commerce