An average Slovak spends around 5,000 euro per year

The last Friday in November, also known as Black Friday, which falls on 24 November this year, is a synonym for the start of pre-Christmas shopping fever. This date is becoming more and more popular in Slovakia, especially within the sphere of online shopping. The year-on-year consumption of Slovak households has been increasing lately, mainly due to the improving economic situation, including declining unemployment and wage growth. According to Roman Müller, a personal finance analyst for Home Credit, Slovaks can afford to spend more in shops. Each member of a Slovak household spends annually on average 5,131 euros, which is about 14 euros per day per person. However, approximately three-quarters of this goes to essential household spending, such as rent, energies or groceries.