Consumer confidence in the economy is weak, but a reasonably good autumn is fuelling retailers’ hopes that Christmas shopping could be profitable.
If predicting Christmas trade has been difficult in the last couple of years, it is even more so now.
– Then you could do distance selling and so on. Now there are a lot of question marks about how consumers will act if costs go up a lot,” he says.
Of the almost three thousand members of Päijät-Häme’s entrepreneurs, about a quarter are directly involved with Christmas trade, and more indirectly.
Some expensive products threaten to remain on the shelf
A sense of the future has now been sought, among other things, by monitoring people’s purchasing behavior during the fall.
– Autumn sales have been moderately good, and based on that we are cautiously optimistic, states Heta Vihervirta-Vuontelo.
According to him, many entrepreneurs believe that there are opportunities for good Christmas shopping.
– In such a challenging time, people want to bring joy and give Christmas presents to loved ones.
Mid-priced products do the best business. Consumers think more carefully about more expensive products.
On the other hand, for example, in sports stores, the availability problems caused by the corona period have now resolved. Vihervirta-Vuontelo says that even the most expensive products that have had problems with availability are sold.
– There is a twofold situation. There are high price range products for sale that are challenging to sell and other products that are sold.
Comparison with the recession is lame
Statistics Finland has measured consumer confidence, and Lauttamäki also sees positive signs in the results. There is money for consumption when there is still enough work, one’s financial situation is considered good and savings have been accumulated.
– During the pandemic, consumption suffered, and many households were able to increase their savings. Now the money has been spent, and not everything has been used up yet, believes Lauttamäki.
But the Christmas table is not compromised
Although the rest of the Christmas trade is expected to suffer somewhat from the tightened economic situation, the representatives of the trade groups believe that the food side will not compromise much.
– When there is cause for celebration, we are ready to invest in it, sums up Sivula.