Yuletide shopping strains Norwegians / News / The Foreigner

Yuletide shopping strains Norwegians. Many Norwegians are already feeling the stress of Christmas, less than a week into December. “Ho ho ho” could become “oh oh oh”. Nearly one million Norwegians believe the cost of gift-giving at Christmas is creating financial pressures, InFact’s Bank2-commissioned survey shows. Almost one-fifth of Norway’s population are feeling the strain regarding this festive season.

christmas, money, stress, shopping



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Yuletide shopping strains Norwegians

Published on Thursday, 3rd December, 2015 at 12:22 under the news category, by Sarah Bostock and Michael Sandelson   .
Last Updated on 3rd December 2015 at 12:33.

Many Norwegians are already feeling the stress of Christmas, less than a week into December. “Ho ho ho” could become “oh oh oh”.

Christmas tree place setting
Christmas tree place setting
Photo: christmasstockimages.com/Creative Commons


Nearly one million Norwegians believe the cost of gift-giving at Christmas is creating financial pressures, InFact’s Bank2-commissioned survey shows.

Almost one-fifth of Norway’s population are feeling the strain regarding this festive season.

“Focus on appearing successful is increasing. Where to go on holiday and what you can give for Christmas have become important,” Bank2 CEO Frode Ekeli told financial website e24.no. “Christmas and holidays have become showcases for success."

Mr Ekeli adds that every year, the bank receives requests from families who have spent more than they can afford over the Christmas season.

Moreover, it is estimated that a higher percentage of the population are now shopping online rather than in-store.

According to Enterprise Federation of Norway (Virke), eight out of ten 30 to 44-year-olds do this.

The statistic is six of ten for the population in general, with an expected NOK 4.1bn total sales figure – a ten per cent increase on last year. Updated figures are published, Friday.

The Enterprise Federation also says that they think that these online gift purchases will cost between 2,500 and 7.499 kroner.

“Time saving and avoiding crowds in the shops are the main reasons for people choosing to go online for this year’s Christmas gifts,” says Virke Handel’s Johanne Kjuus.

Silje Sandmæl, consumer economist at banking major DNB, advises people to shop early in order to secure delivery by Christmas, and warns people of other pitfalls they have to look out for.

“Remember any extra costs [that may come in addition]. VAT and import duty could be added on to the price if buying from foreign websites,” she says.

The cost of shipping also comes on top of these amounts.

Norway import and VAT rules:

  • Maximum VAT-free online personal purchase amount allowed: below 350 kroner including shipping and insurance
  • From 350 kroner upwards: 25 per cent VAT is levied on the entire sum paid
  • Gifts posted from abroad (person to person) under 1,000 kroner are Norway VAT-exempt
  • 25 per cent VAT levied from 1,000 kroner
  • No VAT exemption for goods sent by foreign-based businesses
  • Courier companies and the like in Norway may charge fees for handling the goods in addition.

(Source: Norwegian Customs and Excise)



Published on Thursday, 3rd December, 2015 at 12:22 under the news category, by Sarah Bostock and Michael Sandelson   .
Last updated on 3rd December 2015 at 12:33.

This post has the following tags: christmas, money, stress, shopping.





  
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