Swedes plan to spend more at Christmas

The festive season looks set to bring good tidings for retailers, with a new survey showing Swedes plan to increase the amount they spend on Christmas presents.

The average Swede plans to spend 3,200 kronor on Christmas shopping, eight percent more than last year, according to the survey carried out by Synovate for Nordea Bank. In the same survey last year people said on average that they would spend just over 2,900 kronor.

91 percent of Swedes said they buy Christmas presents, with people aged 40-53 the largest Christmas consumers. Women spend more on Christmas than men, according to the survey.

People in northern Sweden plan to spend most lavishly on Christmas presents, with an average of 4,076 kronor per person. People in the far south of Sweden were meanest, spending an average of 2,806 kronor per person.

Low-income earners are set to increase their spending most. The average person living in a household with an annual household income of less than 250,000 kronor planned to spend 2,545 kronor on Christmas presents, compared to just 1,892 kronor last year.

People with household incomes of 500,000 kronor or more planned to spend 3,981 kronor – the same amount as last year.

Nordea’s Anna Backlund said that Swedes “mainly pay for our Christmas presents out of income or savings.

“It is easy to get carried away with Christmas shopping and spend too much. If you’ve got a plan for your shopping and stick to it, you can save time, and possibly money.”

Swedes spend much less than all their Nordic neighbours on Christmas presents. The average Norwegian spends 5,676 kronor (4,900 NOK) on presents, with both Danes and Finns also spending more than Swedes.