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New Icelandic record in Christmas shopping

The manager of Smáralind mall in Reykjavík suburb Kópavogur, Pálmi Kristinsson, predicts Icelanders will set a new record on spending for Christmas next Saturday.

Kristinsson expects shoppers nationwide to spend up to ISK 4 billion (EUR 44 million, USD 58 million) next Saturday, which is the last day before Christmas. In comparison, Icelanders spent close to ISK 2 billion last Saturday. Fréttabladid reports.

Despite previous signs of a decline in private consumption in Iceland, Icelanders seem to be spending more than ever before Christmas. Kristinsson said many stores in Smáralind have increased their sale by 40 to 60 percent compared to December last year.

Next Saturday, December 23, is traditionally the last day of shopping before Christmas in Iceland, and on that day shops are open until 11 pm.

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