Commerce Day in Iceland 2023: Date, History, Facts, Activities

Commerce Day occurs on the first Monday of August, which is August 7 this year. Icelanders adore this holiday and anticipate it with great anticipation. Although it began as a holiday for blue-collar workers, it soon spread to other workers in the country and throughout Europe. Commerce Day honours the daily contributions and sacrifices of employees. It is also a holiday for everyone. Commerce Day is observed by the closing of the national stock exchange and the majority of large and small enterprises.

The background of Commerce Day

Iceland celebrates Commerce Day, also known as Fridagur verslunarmanna. The concept originated in Denmark, and while the tradition has faded out in Denmark, it continues to thrive in Iceland. The first Commerce Day was celebrated on September 13, 1894, a date agreed upon by unions and managers of the larger stores in Reykjavik, the capital of Iceland. This summer holiday was intended to allow commercial workers a day off. Commerce Day gained popularity among shop employees, merchants, and industrial labourers. As time passed, the dates shifted from September to August.

In 1931, Icelanders resolved to celebrate Commerce Day on the first Monday of August. Commerce Day became an extended weekend holiday in Iceland because it fell on a Monday, and the locals made the most of it. It’s not often that the weather is pleasant and sunny, so it’s not surprising that this holiday quickly gained popularity among employees. It was a fitting summer finale before everyone returned to work or education. In addition, it made sense for everyone to take a vacation on this day, given that manufacturers and suppliers rely on one another for parts and labour.

Commerce Day is still a widely celebrated Icelandic holiday, marked by outdoor festivals, recreational activities, and gatherings! Numerous Icelanders pack their tents and RVs to spend much-needed leisure time in the beautiful summer woods.

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DAY OF COMMERCE ACTIVITIES

Express gratitude to workers.

A few words of thanks to local employees can go a long way towards making them feel valued, despite the awkwardness of the situation. If you don’t want to do it in person, use social media to reach out to them. Help raise awareness and encourage others to express appreciation for the efforts of labourers everywhere. It is a simple but meaningful way to commemorate the occasion.

Host a celebration.

Do you need an excuse to celebrate on a national holiday? If you answered yes, you will be pleased to discover that early Commerce Day celebrations consisted of a series of parties and festivals. Due to bad weather, many were unable to attend the main events on the Westman Islands; consequently, they organised their own smaller celebrations in various parts of the country. That is reason enough to celebrate!

Go tenting

In Iceland, Commerce Day is considered an unofficial camping holiday. On this day, many people abandon the city for the tranquilly of the great outdoors. It’s a wonderful way to relax and escape the urban work environment.

5 INFORMATIVE FACTS ABOUT COMMERCE IN THE MODERN WORLD

E-commerce transactions through social media have grown by 93% annually for the past four years, making it one of the fastest-growing business sectors.

Thanks to its extremely technologically advanced business model, the e-commerce industry registers a low amount of approximately 0.8% fraudulent activity.

If shipping fees exceed the cost of items in the purchasing cart, 54% of consumers will not complete their purchases, which has amounted to nearly $18 billion in losses for all e-commerce companies combined.

With the lack of physical stores, you might assume that online shopping means no more window shopping; however, 97% of mobile users and 70% of PC users abandon their carts, proof that they’re just doing it to kill time.

If the only payment option is instant credit card payment rather than paying money on delivery, 51% of consumers will abandon their carts.

COMMERCE DAY DATES