French seen cutting online Christmas budget
PARIS (Reuters) - French shoppers plan to spend less online on average this Christmas, the country's Commerce Federation (Fevad) said on Wednesday, the latest sign of France's struggling economy.
The economy contracted in the third quarter - the third time in four quarters - jobless numbers are at a record high, and taxes have been rising.
Shoppers are expected to spend an average 193 euros online for Christmas presents, down 3 percent from a year ago, Fevad said in a statement.
But because more French will shop online, online Christmas retail sales are expected to reach 10.3 billion euros, a year-on-year rise of 14 percent.
This would lift total online retail sales in France to over 50 billion euros in full-year 2013 from 45 billion in 2012.
A survey by market research group Deloitte released earlier this month showed that while families across Europe prepare to spend more on average this Christmas for the first time since 2008, the French were among those who looked set to spend less as they grow more pessimistic about their purchasing power.
(Reporting by Dominique Vidalon Editing by Jeremy Gaunt)
- Tweet this
- Share this
- Digg this
- Missing Malaysian jet may have disintegrated in mid-air - source
- UPDATE 4-William Clay Ford Sr., grandson of pioneer automaker, dies at 88
- UPDATE 3-Libyan rebels warn of 'war' if navy attacks oil tanker
- Golf-Reed in Cadillac driver's seat as Woods fades
- WRAPUP 9-Missing Malaysian jet may have disintegrated in mid-air - source
A wildcat strike at an IBM factory in southern China illustrates how tectonic shifts under way in the country's labor market are emboldening workers to take matters into their own hands, raising risks for multinationals. Full Article