Sat, May 26 2012

Is Christmas stronger than the economic crisis?

Fri, Dec 04 2009 09:43 CET

byJana Liptáková - Slovak Spectator

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Is Christmas stronger than the economic crisis?

In the recent past, Christmas was a time of abundance for stores as well as shoppers. Last year, even though Slovaks had begun to feel the start of the economic crisis they did not allow it to spoil their Christmas and retail sales went on increasing. Market watchers expect that the strong tradition of enjoying Christmas in Slovakia will not change this year, even though Slovak customers have adopted some more economical shopping habits in response to the economic downturn.

Retail sales in December 2008 rose 3.2 percent in fixed prices when compared to December 2007, according to the Slovak Statistics Office. This was the second biggest increase in the European Union, with only Poland registering a higher year-on-year increase, 4.6 percent, in retail sales last December.

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