More Swedes buying fewer Christmas gifts

A quarter of Swedes plan on buying fewer Christmas presents this year, according to a new survey, a percentage that is higher than in years past.

News agency TT reports that 25 percent of respondents said they would do less shopping than last year but 12 percent confirmed they intend to buy more presents for the 2013 Christmas holiday. The remaining majority said they would buy the same amount of gifts as last year.

The Swedish Trade Federation carried out the online survey that examined the spending habits of some 1,200 participants aged 18 to 80 years.

"I believe that consumers have become more thoughtful about the holiday shopping season," said Magnus Kroon of the Swedish Trade Federation. "Quality is better than quantity. Even when it comes to Christmas food we have become more discerning in our choices."

According to the November survey, 30 percent of respondents believe their consumption will increase over the next month, while 14 percent believe it will decrease.