Danish consumer spending has continued to grow for the third year in a row, with December retail sales set to be about 1.5 percent higher than 2015, predicts economist Louise Aggerstrøm Hansen from Danske Bank.
According to Hansen, the Danes are getting paid more while the prices of products have overall remained stable, and people can thus afford to buy more for their coin.
In 2015, the average Dane spent 1,090 kroner more in the month of December than in the previous months of the year, and Hansen reckons the amount will increase to 1,110 kroner this year.
November taking its share
However, Steen Bocian, the chief economist at the Confederation of Danish Enterprises, argues that some of this year’s Christmas sales moved to November because of Black Friday when credit card purchases totalled 2 billion kroner.
Bocian also notes that despite the recovering economy, the Danes are still careful with their personal finances and trying to save.
More people in need
Meanwhile, the Danish humanitarian organisation Dansk Folkehjælp has reported that it received 15,482 applications for Christmas help from families who cannot afford to celebrate the holiday.
It is more than double compared to last year, while other organisations are also experiencing a high demand for the service.