During the pandemic, there was significant growth in shopping among Norwegians. Now the trend has reversed, and Norwegians are spending more money on festivals and restaurants.
Card use data from DNB shows that Norwegians’ consumption patterns have changed significantly compared to during the pandemic, the newspaper Dagens Næringsliv writes.
“There is a clear shift in shopping trends now that we are not sitting at home as much as during the pandemic,” Ine Oftedahl at DNB pointed out.
The biggest drop DNB has registered in card use by Norwegians is in the aggregate category of “home and hobby,” which includes furniture, electronics, sports equipment, toys and games, hobbies, and interiors. Within this category, card use has fallen by almost 20% compared to the summer of 2020.
Chief economist Marius Gonsholt Hov at Handelsbanken told DN that consumption of services has picked up again after the pandemic.
“During the pandemic, we saw a sharp increase in the consumption of goods and a sharp decrease in the consumption of services. After the reopening of society, service consumption has naturally picked up again. People are at festivals and restaurants and prioritize nightlife,” Hov said.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
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