Retailer: Christmas spending unchanged despite inflation

Faroese people buy as many Christmas presents as in previous years – the same quantities in the same price ranges.

This is the view of Lars Müller, CEO of clothing retail chain Skálkur.

“Our Christmas sales revenues this year are just about exactly the same as in 2020 and 2021 when we saw record-high revenues,” he says.

“We had expected our customers to opt for cheaper products this year, but that does not appear to be the case. The shopping patterns are just about exactly the same as in the past couple of years.”

What do the shoppers say?

We asked ten randomly selected shoppers in the streets whether the rising prices have affected their Christmas present shopping.

Nine said that nothing has changed; some are even buying more this year.

Many indicated that they tend to put any financial concerns on hold at this time of year.

One person, however, said that the higher mortgage rates are forcing her and her family to spend less on Christmas presents this year.

More Faroese News in English.