Christmas 2010: Sales growth in France
Economie autour de la fête de Christmas
Every year, a fortune is spent during the Christmas holidays in France. And despite the financial crisis that has hit, Christmas 2010 will be no exception. Moreover, compared to the previous year, total sales are expected to grow by an estimated 11%. A study conducted by the Centre for Retail Research has provided an estimate of forecast sales in the retail sector. The data covers the six busiest weeks of the Christmas period and comes from a study conducted among some fifty major retailers in Europe.
The data collected during this study have made it possible to estimate total Christmas sales in 2010 at €62.5 billion. Of this figure, €6.3 billion will be spent online, representing an increase in online sales of €62.9 billion compared to 2008, and of €30.7 billion compared to 2009.
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€512 per household
The French are expected to spend an average of €512 per household, with 20% of their purchases made online. Of this total budget, €285 will be spent on gifts, €157 on food and beverages, €21 on decorations, and €49 on travel.
The results of the same survey also showed that the French are increasingly attaching importance to their budget. This year, to stick to their budget, they will have to make certain choices about their spending and limit their purchases to the essentials.
Distribution of the gift budget
The study also states that, of the budget allocated to gifts, 34 billion will be spent on clothing and footwear, 24 billion on electronic gadgets, 22 billion on toys alone, and 15 billion on cosmetics. Online sales are also expected to grow significantly, while retail sales are expected to decline. This is due to the fact that discounts and sales offered in e-commerce are much more attractive than those in stores.
What's more, consumers who choose to shop in-store enjoy the added benefit of avoiding the crowds and busyness of department stores.
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