“Holiday money does not seem to be used as an extra buffer in financially uncertain times. And spending will not be postponed despite the economic downturn,” ICS reported on Thursday.
The number of purchases in the two weeks in which the holiday pay is paid to most Dutch people is virtually the same as in the same period in 2019. There is even a modest increase of 1%.
The figures show a visible increase in the number of spending in a number of product categories. The Dutch spent more on entertainment such as amusement parks, film, theater and sports (+26%). Other product categories that show a plus often have a higher purchase amount, such as consumer electronics from €501 to €1000 (+21%) and furniture from €501 to €1000 (+15%).
“The Dutch don’t seem to choose to keep a hand on the purse for the time being,” says Glenn Mac Donald of ICS. “There is also still a catch-up demand and we see, for example, that many people need a holiday and relaxation after two years of corona.”