French Holiday Spending Declines Amid Economic Challenges and Brandt's Uncertain Future

As France approaches the Christmas season, consumer spending is noticeably tightening, reflecting broader economic concerns. According to a mid-November survey detailed in the ninth Christmas barometer by CSA for Cofidis, the average French Christmas budget has dropped to 491 euros per person, down by 6 euros from 2024 and marking the lowest level since 2017. The median budget has declined more sharply from 400 to 350 euros, signaling that while some wealthier individuals increase spending, the majority are cutting back. Notably, seniors over 65 continue to spend the most, averaging 638 euros, with upper socio-professional groups (CSP+) at 517 euros and lower groups (CSP-) at 370 euros. This spending restraint coincides with economic uncertainties exemplified by the predicament of Brandt, a historic French appliance manufacturer. Brandt, under judicial recovery since early October, faces a precarious future as the Nanterre economic affairs court deliberates without a set date to rule. Local officials, including Serge Grouard, mayor of Orléans, advocate for a cooperative takeover plan to preserve at least 300 of Brandt's nearly 700 jobs and its two factories near Orléans and Vendôme. Despite government support pledging 5 million euros and additional regional funding, Brandt's production is nearly halted, requiring an estimated 20 to 25 million euros to resume. The company's survival largely depends on securing bank financing in a dwindling market. This economic stress on both consumers and manufacturers underlines the challenges France faces during the festive period, affecting household spending and industrial employment alike.