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Danish stores got surprisingly busy on Black Friday

Online and retail trade in Denmark has recently experienced a tough few months, with consumer confidence in the economy at a record low and declining sales. But on Friday, the pessimism apparently subsided.

Published: 26 November 2022 10:10 CET
Black Friday
Black Friday turned out to be a huge success in Denmark this year. Photo by Ashkan Forouzani / Unsplash

Both online and brick-and-mortar stores registered surprisingly good sales numbers, according to what Niels Ralund, director of e-commerce at Dansk Erhverv, told the news agency Ritzau.

“We believe that Black Friday was roughly (at) the same (level) as last year, and that is actually quite good.

“Toys have done fantastically well, books have done badly, and electronics are at the same level as last year,” Ralund added.

The payment service MobilePay also reports a lot of traffic on Black Friday.

“We ended up with a solid record day for MobilePay on Black Friday… However, the first four days of Black Week were at an even higher level because the stores have been very aggressive with good offers,” Lars Green, the commercial manager for MobilePay Online, stated in a written comment.

On Friday, goods worth a total of 881 million kroner were purchased via MobilePay in Danish stores, making the total purchase volume 19 percent higher than on Black Friday last year.

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ECONOMY

IN DATA: Danish incomes rise faster than any time in the last 30 years

The average income earned in Denmark shot up by 6.3 percent in 2023, the largest annual rise in earnings recorded since the early 1990s. We break down the numbers.

Published: 18 September 2024 14:46 CEST
IN DATA: Danish incomes rise faster than any time in the last 30 years

The average pre-tax income in Denmark rose to 395,500 kroner in 2023, a 6.3 percent rise on the average in 2022, and the highest year-on-year percentage rise in real incomes seen in the country in 30 years.

The sharp rise was driven primarily by income from investments, with shares and funds which performed poorly in 2022 bouncing back strongly in 2023, leading to a near-doubling in the earnings booked by many Danes. 

"The high increase in the average total income per person before tax in 2023 must be seen in the light of an extremely good year on the financial markets," Statistics Denmark wrote in a press release. The average pre-tax income from assets shot up 77 percent to 24,600 kroner in 2023, after the disappointing 29 percent decline in investment earnings received on average in 2022. 

Income from salaries rose a very solid 4.1 percent, with the average pre-tax salary rising by 10,100 kroner to 255,900 kroner. Income from small businesses rose 3.8 percent from 265,500 kroner to 275,500 kroner, while income for the self-employed was flat compared to 2022 at an average of 18,600 kroner. 

"It's hardly surprising that income is rising on average," Brian Friis Helmer, a private economist at Arbejdernes Landsbank, said in a comment. "Employment rose by more than 30,000 last year, and wages in the private sector, in particular, rose noticeably. With more Danes in work and more in the salary bag, it raises the average income." 

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