SPENDING IN RELATION TO OTHER COUNTRIES

  • Bulgaria
    140 25%
  • Romania
    136 24%
  • Croatia
    132 23%
  • Australia
    131 23%
  • Denmark
    106 19%
  • Norway
    101 18%
  • Grand Total
    100 18%
  • Estonia
    93 16%
  • Germany
    93 16%
  • Latvia
    90 16%
  • Sweden
    89 16%
  • Finland
    71 12%
  • Netherlands
    65 11%

How did Corona Virus affect your employment situation?

  • I am still employed and no change in my salary
  • I am still employed but got a reduction in my salary
  • I lost my job and am currently unemployed
  • My employment is on pause and I receive goverment payment support

How did Covid-19 affect your life?

  • I canceled all my traveling plans this year
    3.8
  • Given the economic situation, I need to be careful how I spend my money
    3.6
  • I started to enjoy and appreciate the little things more
    3.6
  • I fear a second Covid-19 wave
    3.2
  • I cut back on my spending
    3.2
  • Talking to my friends and family online or over the phone helped me get through the isolation much easier
    3.1
  • I developed new hobbies and healthy habits during this period
    2.9
  • My menthal health suffered during Covid-19
    2.5
  • I am concerned about losing my job
    2.5
  • My monthly income has been affected
    2.3
  • My family and friends health has been affected by Covid-19
    2.2
  • My ability to work has been reduced because of Covid-19
    2.2
  • I managed to do some savings during this Covid-19 period
    2.1

Favourite activities during Covid-19 isolation:

  • Watching TV
    16%
  • Spending time outdoors
    13%
  • Talked to friends/ family
    13%
  • Online streaming (e.g. netflix)
    9%
  • Reading books
    8%
  • Social Media - Tik Tok, Instagram
    8%
  • Online shopping
    7%
  • Playing online games
    6%
  • Working remotely
    6%
  • Remote learning with your kids
    6%
  • Developed new hobbies (meditate, etc)
    4%
  • Social games (puzzle, monopoly..)
    4%
  • Online fitness
    2%

Household Christmas spending forecast 2020

  • Less than last Christmas
    57%
  • Same as last Christmas
    37%
  • More than last Christmas
    6%

Christmas spenders

Out of the 12 countries who were part of our Christmas Barometer, the bigger spenders are in Bulgaria, where respondents stated that 25% of their monthly income will be allocated for the Christmas Holidays, followed by Romania with 24%, Croatia and Australia 23%. At the other end of the chart we find Finland with only 12% of their monthly income to be spent and Netherlands with 11%.

Contactless payments in times of COVID-19. Cash is no longer king!

COVID-19 has fundamentally changed our behaviours this year. We’ve shifted to remote working, online shopping and cashless payments. Even if cash had already been on the decline for years, COVID-19 has accelerated the move away from cash. When ordering online, card payments are preferred by 54% of the respondents worldwide, while 26% still opted for cash payments and the other 20% for bank transfer. When it comes to the digital world and card payments, respondents from Norway run the chart where 93% stated they prefer card payments, followed by Denmark (80%) and Sweden (79%). At the other end of the chart, we can find Bulgaria where 71% people are still choosing cash payments over the online cards.

How much do you think you will spend during next 2-3 months?

  • 0-200 €
    57%
  • 201-400 €
    19%
  • 401-600 €
    8%
  • 1201-1400 €
    6%
  • 601-800 €
    3%
  • 801-1000 €
    2%
  • 1401-1600 €
    2%
  • 1001-1200 €
    1%
  • 1601-1800 €
    1%
  • 1801-2000 €
    1%
  • 2001-3000 €
    1%
  • 3000 € +
    1%

Biggest spending for the upcoming months:

  • Groceries
    21%
  • Home goods
    10%
  • Winter clothing and shoes
    10%
  • Toys and games
    9%
  • Sweets and delicacies
    9%
  • Financing children’s needs
    8%
  • Home furnishings
    6%
  • Gift cards
    6%
  • Electronics: PCs, laptops, tablets
    4%
  • Alcohol
    3%
  • Cosmetics
    3%
  • Books
    3%
  • Sports and other hobby gear
    2%
  • Well-being services, spa
    2%
  • Domestic travelling
    1%
  • Jewerly
    1%
  • Gardening or DIY
    1%
  • Luxury products
    1%
  • Fitness equipment for home
    1%
  • Travelling abroad
    1%

What is most important to you during Christmas?

  • Spending time with family/loved ones
    69%
  • Enjoying Christmas spirit/feast
    18%
  • Christmas is not that special for me
    6%
  • Getting Christmas gifts
    3%
  • Something else, tell us
    2%
  • Enjoying wintersports
    1%

Online vs street shopping:

  • Traditional shopping (street shopping)
  • Online shopping

When doing online shopping what payment method do you choose?

  • Online card
  • Cash payment on delivery
  • Bank transfer

Canceled or delayed 2020 plans because of Covid-19:

  • International traveling
    25%
  • Buying home apparel
    19%
  • Buying a car
    15%
  • Domestic traveling
    12%
  • Buying clothes/ fashion accessories
    11%
  • Buying a house/ appartment
    10%
  • Buying a smartphone
    9%

How are you going to finance your spending?

  • With savings
  • Partly with Ferratum Loans
  • Partly with credit cards
  • Partly with consumer credits
  • Partly with loans from other financial institutions

What's the reason you didn't take a Ferratum loan lately?

  • I didn't need money
  • I am concerned that I couldn't pay it back
  • I spend much less money lately
  • I got financial support from friends and family
  • I took a loan from other financial company

What's your New Year's resolution?

  • Be healthy and keep taking measurements to prevent the Covid-19 spreading
    22%
  • Spend more time with my loved ones
    16%
  • Appreciate little things more
    11%
  • Exercice more / Be more active
    10%
  • Renovate my home
    9%
  • Move to a new house
    7%
  • Buy a new car
    7%
  • Invest in my dreams
    7%
  • Travel more
    6%
  • Repair my car
    3%
  • Work less
    2%

Even if the COVID-19 pandemic has accelerated a shift towards a more digital world, consumers still choose in-store shopping

Despite the fact that during lockdown we did most of our shopping online, the Christmas survey showed that shoppers much preferred the ability to see, touch, feel and try out items over shopping online. As we all know, shopping is therapy, and in-store shopping is a relaxing activity that increase seretonine levels. This doesn’t come as a surprise that during Summer, 68% of the respondents answered that they would prefer to do phisical shopping.

Top Christmas spending 2020

Without a single exception, respondents from all 12 countries will allocate most of their money on groceries in the upcoming months. Next choices are home goods, winter clothes and financing children’s needs.

Christmas gifts are also important, and respondents are definitely allocating money for buying toys, sweets and gift cards for their loved ones.

Top Christmas spending behaviour:

Australia
  • Groceries
    20%
  • Toys and games
    11%
  • Gift cards
    8%
  • Home goods
    8%
  • Electronics: PCs, laptops, tablets
    6%
  • Spending in relation to other countries: 131 (FE group = 100)
  • Spending relative to household income: 23% (821 €)
Bulgaria
  • Groceries
    24%
  • Winter clothing and shoes
    18%
  • Toys and games
    8%
  • Financing children’s needs
    8%
  • Home goods
    6%
  • Spending in relation to other countries: 140 (FE group = 100)
  • Spending relative to household income: 25% (269 €)
Croatia
  • Groceries
    22%
  • Home goods
    18%
  • Winter clothing and shoes
    13%
  • Sweets and delicacies
    11%
  • Financing children’s needs
    10%
  • Spending in relation to other countries: 132 (FE group = 100)
  • Spending relative to household income: 23% (270 €)
Denmark
  • Groceries
    17%
  • Financing children’s needs
    11%
  • Winter clothing and shoes
    11%
  • Home goods
    9%
  • Toys and games
    8%
  • Spending in relation to other countries: 106 (FE group = 100)
  • Spending relative to household income: 19% (761 €)
Estonia
  • Groceries
    15%
  • Toys and games
    9%
  • Financing children’s needs
    8%
  • Well-being services, spa
    8%
  • Home goods
    8%
  • Spending in relation to other countries: 93 (FE group = 100)
  • Spending relative to household income: 16% (281 €)
Finland
  • Groceries
    28%
  • Financing children’s needs
    11%
  • Sweets and delicacies
    9%
  • Winter clothing and shoes
    8%
  • Toys and games
    8%
  • Spending in relation to other countries: 71 (FE group = 100)
  • Spending relative to household income: 12% (494 €)
Germany
  • Groceries
    19%
  • Winter clothing and shoes
    10%
  • Toys and games
    9%
  • Sweets and delicacies
    8%
  • Gift cards
    8%
  • Spending in relation to other countries: 93 (FE group = 100)
  • Spending relative to household income: 16% (523 €)
Latvia
  • Groceries
    17%
  • Toys and games
    10%
  • Financing children’s needs
    10%
  • Home furnishings
    9%
  • Winter clothing and shoes
    9%
  • Spending in relation to other countries: 90 (FE group = 100)
  • Spending relative to household income: 16% (213 €)
Netherlands
  • Groceries
    29%
  • Winter clothing and shoes
    10%
  • Sweets and delicacies
    7%
  • Home goods
    7%
  • Electronics: PCs, laptops, tablets
    7%
  • Spending in relation to other countries: 65 (FE group = 100)
  • Spending relative to household income: 11% (357 €)
Norway
  • Groceries
    20%
  • Winter clothing and shoes
    15%
  • Home goods
    12%
  • Gift cards
    8%
  • Financing children’s needs
    6%
  • Spending in relation to other countries: 101 (FE group = 100)
  • Spending relative to household income: 18% (779 €)
Romania
  • Groceries
    28%
  • Home goods
    15%
  • Sweets and delicacies
    12%
  • Winter clothing and shoes
    10%
  • Toys and games
    8%
  • Spending in relation to other countries: 136 (FE group = 100)
  • Spending relative to household income: 24% (327 €)
Sweden
  • Groceries
    19%
  • Winter clothing and shoes
    13%
  • Toys and games
    10%
  • Sweets and delicacies
    8%
  • Home goods
    8%
  • Spending in relation to other countries: 89 (FE group = 100)
  • Spending relative to household income: 16% (590 €)