The members of NBF are still positive for the high activity for rest
of the year 2008. But there are some indications of slowing down after
an overheated market in 2006 -2007- 2008.
The government is now in process of denying more shopping centres to be
established outside city centres. This decision will immediately stop
many new plans for new shopping centres and retail parks. The interest
rate, the cost of labour and building materials have increased rapidly
the last year. Another signal is also that the real estate companies
slow down their activities and close some plans for new establishments
of shopping malls and retail parks. So our industry will see that there
will be less activity and order income for 2009 – 2010.
Conclusion: decreased activity in delivering new shops, however the
refurnish market will be there as normal?
Retail sales volume: Is falling with 5,6% .
The figures from March 2008 is that fashion, shoe, furniture and
building material decrease the sale volumes with 11%. The total index
goes down with 0,4 %. Food is still strong due to the world index of
increasing food prices. Compared to March 2007 the drop in turnover is
5,6%.
The increase of interest rate can be the answer, the consumers are more
careful to spend money on shopping. In a country like Norway it will be
the shops that are trading luxury goods that will be suffering from the
situation, because Norway have a huge volume of middle class people.
Key figures for Norway :
Population: 4,76 mill.
Unemployed 2,5%
Inflation estimated 2-,5 -3% (2008)
Oslo 2nd.May 2008
Norske Butikkinnrederes Forening.