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Christmas spending disappoints retailers
Filed under: Just For Moms, Just For Dads, Places To Go
Christmas is over and it is time to add up the receipts. As we do every year, we decided on a budget for our Christmas spending and vowed to stick to it. For the first time ever, we actually succeeded.
It seems that while we were watching our pennies, so was everyone else. According to MasterCard SpendingPulse, retail sales rose just 3.6 percent over last year between the day after Thanksgiving and Christmas eve. If you adjust for the increased spending on gasoline, that number drops to a tiny 2.4 percent increase. That's a fairly significant drop from years past, which saw a 6.6 percent increase in 2006 and an 8 percent increase in 2005.
Is it possible that we've all come to our senses and realized that going into debt buying Christmas presents is a bad idea? Or are well all just a bit poorer than we were last year? I am proud of myself for keeping it reasonable this year. How did you do? Did you make a budget and stick to it? Or did you get caught up in the spirit of giving and end up giving too much?
It seems that while we were watching our pennies, so was everyone else. According to MasterCard SpendingPulse, retail sales rose just 3.6 percent over last year between the day after Thanksgiving and Christmas eve. If you adjust for the increased spending on gasoline, that number drops to a tiny 2.4 percent increase. That's a fairly significant drop from years past, which saw a 6.6 percent increase in 2006 and an 8 percent increase in 2005.
Is it possible that we've all come to our senses and realized that going into debt buying Christmas presents is a bad idea? Or are well all just a bit poorer than we were last year? I am proud of myself for keeping it reasonable this year. How did you do? Did you make a budget and stick to it? Or did you get caught up in the spirit of giving and end up giving too much?
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ReaderComments (Page 1 of 1)
12-26-2007 @ 8:29PM
Swistle said...I think people felt skittish about toys, because of all the recalls.
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12-27-2007 @ 2:46AM
Amy said...We kept it simple. The family got a Wii - pricey but for a family of 5 it's perfect. Each child received one expensive present, such as Uggs or a handbag. There were then the less expensive presents, art supplies, a music box, some jewelry making tools. That was it, no junk, nothing to break or clutter up the house, but gifts they wanted but wouldn't buy for themselves. It had to be the best Christmas in a long, long time. No one had hurt feelings!
Reply
12-27-2007 @ 8:42AM
Heather said...Consumers have caught on that is why. Maybe if they didn't put the prices up in October and November then " have a sale" on that item in December that might bring it back to the original price we would buy more. I caught one company here doing this, they sold out of an item one week it was reg $14.99 on sale for $9.99. I got a rain cheque. 2 weeks later I went to get it and it was listed in the flyer as reg $19.99 on sale for $14.99. I still got it for $9.99 because I had the rain cheque.
Maybe if they would take items off the shelf the night before the sale ( caught store doing this too).
Also prices are going up wages are not going up nearly as fast. I had more money after the bills 10 yrs ago then I do now and I am making more money.
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