The credit crisis and gloomy economic forecast did little to dampen consumer spending this weekend, ahead of the main Dutch present-giving celebration of Sinterklaas on December 5.

The number of direct debit card (pin) transactions this weekend reached 10.4 million, said electronic transfer processor Equens in the NRC. Electronic payments on Saturday topped last year’s by 700,000 at 8.6 million.
Despite the further decline in consumer and producer confidence announced on Friday, families say they do not intend to buy fewer presents this year.
In a poll by research bureau Q&A, over half of the 4,000 people questioned said they have less money to spend than in 2007, but 85% said they did not intend to spend less on gifts, reports the NRC.
The Dutch retail council forecasts total spending on Sinterklaas presents will reach €813m this year, up 2% on 2007. ‘The Dutch consumer is not going to be talked into the crisis,’ said a spokesman for small business organisation MKB-Nederland.
The organisation also expects spending around the Christmas period to be higher than last year.