Norwegians have reduced their total Christmas shopping by nine percent from last year, according to DNB’s Christmas analysis. Where we tightened the most was on food and drink, where we cut a whopping 12 per cent. This includes groceries and Vinmonopolet.
JULEBRUS: Norwegians spent less money on food and drink in the run-up to Christmas this year than last year. Photo: Isac Skjevik Kvello / TV 2
Even though we are in what has been referred to as an “animal season”, we have nevertheless spent 15 per cent more on this year’s Christmas shopping than in 2019, which was the previous normal year.
This year we spent almost NOK 100 billion on this year’s Christmas shopping.
– My hypothesis is that we have expected high consumption throughout these two pandemic years. As a result, we have not been able to adjust the merchandise trade down again. We have lost the anchor we used to have.
100 BILLION: Norwegians spent almost 100 billion on this year’s Christmas shopping. It is less than last year, but still a large increase from 2019, says Ine Oftedahl at DNB. Photo: DNB
That’s what numbers expert Ine Oftedahl at DNB tells TV 2. She points out that during the pandemic years, money was not spent on services such as travel and experiences. Then you were left with more money, and consumption increased.
– Now that it has reopened, we have become a bit like Winnie the Pooh. “Yes, thank you, both.”
Young people tighten up the most
Oftedahl says that Norwegians with a high income spend 62 per cent more on this year’s Christmas shopping than those with a low income. At the same time, it is those with a high income who reduce the most compared to last year. But there is a natural explanation for this.
– Those with a high income have much more to go on, and thus they can reduce more. Those with a low income have had a consumption that is so tight from before that there is nothing more to go on, says Oftedahl.
All age groups have tightened card use since last year, but it is those between 18 and 24 who have reduced the most. Young people have reduced Christmas shopping by 13 per cent.
SAVING YOUTH: If we are to believe the figures from DNB, adults should learn from the youth’s reduction in consumption. Photo: Håkon Mosvold Larsen / Scanpix
– The young people started earlier this summer with the tightening, and then it was thought that they might be out a little earlier than the other age groups. But they continue to tighten the most of all, so there is a great sense among the young.
Interest rates have increased, electricity prices have been record high and food prices have skyrocketed. Oftedahl is clear that something must happen with the consumption of Norwegians in 2023, so that one avoids ending up in an economic predicament.
– Then we have to continue the tightening. I think 2023 will be an adjustment year. It will hopefully be the first year without a pandemic having an impact, and that can help you get a bit more into a routine again.
