Christmas shopping set to reach record levels – again
With Christmas not far off, yuletide shopping is expected to reach new record levels this year according to a forecast released by HUI Research on Tuesday.
Each year the Swedish Trade Federation's analyst firm, HUI Research, releases a retail forecast for Christmas. And like most years, 2016's spending is expected to reach record levels, with a growth increase of 3.5 per cent.
"Food, of course, is a large part of our spending, but also a lot of other things that you need in December in addition to the Christmas and New Year's stuff you're buying," HUI Research CEO Lena Larsson told Radio Sweden.
The winning retail category according to the forecast is home decorations, a sector that has seen a 7.3 per cent increase so far this year.