The proportion of Christmas gift trade decreased in Austrian trade

The significance of giving Christmas gifts has been reduced in the past few decades in the Austrian retail market – Austrian economy newspaper, the Wirtschaftsblatt wrote in its Thursday issue, referring to the datas of Ernst&Young and the Austrian Federal Economic Chamber (WKÖ).

Although the absolute amount spent on gifts increased, compared to the total annual retail turnover Christmas shopping’s ratio has decreased – the journal quotes Roman Seelinger, President of the Chamber. In the 50s, this ratio was around 10 percent, while in 2011 it was 2.5 percent. (MTI, Pálfy M. Katalin)