High consumer confidence and tax refunds spur Christmas sales to new records
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Increased confidence by consumers in the performance of the economy, and the tax refunds which were paid in early December, were seen to contribute to record-high Christmas sales.
Guy Wires, Managing Director of the Federation of Finnish Commerce and Trade, expects that the target of five percent growth in Christmas sales is likely to be realised.
Christmas sales at department stores are believed to have grown by about five percent, while sales of sporting goods and household appliances went up by as much as seven percent.
Sales were particularly high for digital decoders and digital cameras. Books also sold well.
In perishable goods, however, intense price competition meant that growth in monetary terms was lower than in other areas of commerce.
Guy Wires notes that this year was exceptional in that sales did not begin until after Christmas.
Consumers are believed to have spent about EUR 750 million above their normal consumption level on Christmas gifts and other seasonal purchases.
Arto Asikainen, head of the Itäkeskus shopping mall in the east of Helsinki, confirms that the Christmas season was a busy one. He says that Christmas sales picked up on the Sunday after Independence Day.
Asikainen estimates that sales at his shopping mall increased this year by about seven percent, which is higher than the average for the retail branch. Although the number of customers did not increase from last year, he notes that more customers took their own car, and that those who drive to do their shopping simply buy more than those who use public transport.
Helsingin Sanomat
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| 28.12.2004 - TODAY |
 High consumer confidence and tax refunds spur Christmas sales to new records |
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