Brisk Christmas sales expected in Finland’s retail trade

New survey shows that consumers and retailers expect Christmas spending to remain high in Finland.

Consumers in Finland are expected to spend a similar amount of money on Christmas shopping as in previous years despite the uncertain economic outlook, according to a survey by the Federation of Finnish Commerce. Online stores are also expected to increase their sales this Christmas.

In the survey 78% of consumers stated that they will spend the same amount or more on Christmas preparations as one year ago. Similarly, 74% said they will spend the same amount or more on Christmas presents as last year. The outlook for daily consumer goods sales is particularly good as food is the item most consumers are planning spend more on during this Christmas compared to last year.

As in previous years, it is working couples and families with children who will be spending the most money on Christmas purchases in Finland. “Families with children are especially planning to buy entertainment-related electronic equipment and content, as well as games, toys and children’s clothes. Households with working adults will be buying electronics, books, alcohol and clothes,” says Jaana Kurjenoja, Chief Economist at the Federation of Finnish Commerce. “Pensioner households, on the other hand, will purchase children’s clothes and toys for their grandchildren, in addition to clothes and books”

A survey of business expectations by the Federation of Finnish Commerce reveals that more than half of Finnish retail sector companies expect sales to increase by at least 3% during the Christmas season. Daily consumer goods, specialty fashion and hardware retailers are the most optimistic about increasing sales. The lowest growth expectations are in furniture, furnishing and sports equipment specialty retail companies, according to Kurjenoja.

In addition to the traditional food, drinks, confectionary, clothes, cosmetics and flowers purchased by many Finnish consumers during Christmas, Finland’s retail sector is also expecting brisk sales in smartphones, entertainment-related electronics, new books, computer and console games, inexpensive jewellery and small tools.