| dc.description.abstract | Abstract
Purpose: The aim of the research is to see if the economic downturn has had an impact on
Christmas trade. The downturn in question is the period in Norway following the start of the
war in Ukraine, which includes interest rate increases, increased electricity, food, and fuel
prices, and overall increasing inflation from 2022 to the present. There is reason to believe that
the high prices have had an impact on the Christmas trade in 2022. However, Christmas
shopping is culturally important for many people, which may lead to people not altering their
budgets even during an economic downturn.
Problem statement: Has the downturn affected Christmas gift spending?
Design/research methods/approach: A descriptive research design was used to investigate
the topic. Using a quantitative method, an anonymous online survey was conducted and
published to social networking sites (SNSs). The answers were later analyzed in SPSS, through
univariate (Spearman correlation coefficient) and multivariate (binomial logistic regression)
tests that provided objective results.
Findings: One out of four hypotheses were supported. There was significant evidence that the
Christmas spending was affected by the downturn but less affected than usual consumption.
Significance was also shown in the relation between materialism and Christmas spending
adjustment to downturn, however, the relationship is positive which contradicted the
hypothesis and was not expected. The remaining hypotheses that proposed the relationship
between reciprocation and altruism with Christmas spending adjustment to downturn did not
show significance in the binomial logistic regression.
Implications: Both the individual consumer and companies can use this research to gain a
broader understanding of their own situation. It is important for consumers to understand how
Christmas shopping can affect their financial state, especially during a downturn. Many
companies are reliant on sales during Christmas, and for them it is crucial to know their
consumers' behaviors. This is of high relevance for those who work with consumer protection
as well.
Keywords: Consumer behavior, downturn, Christmas, gift giving, reciprocation, altruism,
materialism | |
