People in the Nordic will spend less on Christmas because of the rising cost of living
According to YouGov’s cost-of-living tracker, many (59% of Danes and 54% of Swedes) have cut their usual spending because of the cost-of-living crisis, but how will this affect Christmas? Will there be fewer parties or presents?
YouGov’s survey shows that Christmas will be affected as four in ten (39%) say they will spend less on Christmas this year than they usually would. More Finns will spend less on Christmas than the average, while Danes are the least willing to let the cost-of-living crisis affect Christmas. Only 33% of Danes will spend less on Christmas.
Women in the Nordics are more likely to spend less on Christmas this year (45%) and adults with children in the household (44%).
Half the people in the Nordic (48%) expect to have a ‘normal’ Christmas and spend as much as they usually do, but only 4% say they will spend more than usual.
Where will the cuts be made?
Eight in ten (79%) of those spending less on Christmas will cut back on presents. There will, however, still be presents under the tree this year, as people in the Nordics, who celebrate Christmas, on average, expect to buy gifts for seven people. Norwegians celebrating Christmas plan to buy the most gifts as they, on average, will buy gifts for nine people, while Swedes and Finns plan to buy for five people and the Danes for seven. Norwegians also have the highest budget for Christmas gifts. On average, Norwegians celebrating Christmas plan to spend 487 euros on gifts, while the Finns have the lowest budget and plan to spend 257 euros. The Swedes plan to spend 311 euros, and the Danes 392 euros.
Will Christmas be lonelier?
More than four in ten adults in the Nordics, who will spend less on Christmas, say they will cut back on gatherings such as meals with family, friends, and colleagues (44%) or Christmas outings such as trips to see a pantomime or visiting a Christmas market (45%). This is especially true for Danes, Norwegians, and Swedes (51%), while only 28% of Finns will cut back on social activities.
However, it isn’t just the social aspect of Christmas that may be different this year. There will perhaps also be fewer or other dishes on the Christmas tables. 53% of adults in the Nordics who will reduce their spending say they will reduce food expenditure.
The poor and homeless will also be affected by reduced Christmas spending, as 37% of those spending less on Christmas will donate less to charities in response to the rising cost of living.
About the survey
YouGov surveyed adults from YouGov’s proprietary panel in the Nordic countries (DK; n=1035, FI; n=1016, NO; n=1012 and SE; n=1001) using standardized online interviews between November 30 and December 7, 2022. The results are representative of the population in the Nordics aged 18 and over.