Full speed on holiday shopping despite restrictions

Slight between visitors and distance on the escalators of the Emporia Christmas-decorated shopping center in Malmö.Image: Johan Nilsson / TT

Nordea’s annual survey on holiday shopping shows that respondents have big plans for Christmas. On average, it is planned to spend 4,300 SEK on Christmas gifts this year. This is not only an increase of around 30 percent compared to last year, but also the highest level in eleven years. In addition to Christmas gifts, you also have to spend an average of SEK 2,600 on other expenses, SEK 500 more than last year.

“Despite the restrictions, this year’s Christmas budget is increasing dramatically. Many people probably want to make up for all canceled plans during the year. Perhaps we also have more money left over, canceled trips and homework may have yielded more cash.” says the bank’s private economist Ingela Gabrielsson in a press release.

One-fifth say it has become somewhat or much more difficult to finance Christmas shopping this year. It is mainly young people between 18 and 29 years old who affirm this.

“Many young people have precarious jobs and have not had the opportunity to build a mattress. We have also seen during the pandemic that large cities have been affected because the service sector has been greatly affected, ”says Ingela Gabrielsson.

The survey was conducted by Kantar Sifo and 1,137 interviews were collected.