Shoppers in US 'plan to spend less at Christmas'

[cthrumatrix]

Shoppers in US 'plan to spend less at Christmas'
By Christopher Swann in Washington
Published: November 25 2003 4:00 | Last Updated: November 25 2003 4:00

US retailers should brace themselves for a lean holiday season as shoppers plan to cut back on Christmas spending, according to a report published yesterday by the Conference Board research organisation.


The report suggests the average household is expecting to spend just $455 (£267, €383) on gifts this year, compared with $483 last year.

Such belt-tightening, the Conference Board said, could trigger a 5 per cent dip in sales compared with 2002.

The last few months of the year are vital for retailers in the US, with many making more than half of their year's profits in the run-up to Christmas.

snip

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1069493468826&p=1012571727162

[CMT]

1. but this goes against the White House rosy projections

for the economy. 2/3 of GDP is from consumer spending. How can the American people dare to this!!

[La_Serpiente]

2. Maybe that's because

people have spent up all of their tax cuts. Also, incomes haven't been rising either.

[underpants]

3. Soooo are they 91.7% confident they will spend less

Maybe THAT's what those numbers mean

[kysrsoze]

6. That was funny.

Nice one.

[leftchick]

10. lol......thanks underpants......

It is good to know I can still laugh. :)

[underpants]

12. Whoohooo

I got two with one shot

[benfranklin1776]

14. LOL! Good point!

Best logical interpretation in the economic statistics department I have seen in quite some time.

[prolesunited]

4. No wonder my head is spinning

Wasn't there just a story here yesterday that said the exact opposite?

[htuttle]

5. Yes, there was

MiniPlenty said that the chocolate ration had been increased from 30 gm to 25 gm.

[mhr]

7. So Much For Consumer Confidence! That Didn't Last Long!

eom

[bushisanidiot]

8. I Plan On Spending Less This X-Mas, But Spending More On Dem. Campaign Don

ations.

merry x-mas!!

[Heddi]

9. wasn't there a report out yesterday or th eday before

that said that this Xmas was going to be one of the strongest ones in YEARS?

These "average Xmas Spending per household" reports are totally bogus. Average last year was $483 per household? Really? No-one I know spent over $200 for EVERYONE. Even people with lotsa kids, or lotsa kids in their families didn't go overboard.

People don't have jobs. Companies are laying people off. People are losing their houses and their cars, but I'm supposed to believe that the 'average' household is going to spend $455 on Xmas junk?

Nearly everyone I go to school with (all upper 30's & 40's) is making HOMEMADE Xmas presents this year---myself included.

Alot of people I know are doing a mutual no-gift policy this year b/c so many people in their family are either out of work, or close to it.

These 'projections' do nothing but peer pressure people into thinking that they just haven't spent enough, and that no matter how late the mortgage payment is, they need to spend more more more

[mhr]

13. Ahh, How Quickly We Forget. On Average, Bill Gates Will Spend More.

This makes up for the rest of us spending less.

When one drops a billion or two at Neimans this makes the numbers look very good!

[cosmicdot]

15. here it is

poll still up at MSGOP article site

How much do you plan to spend on holiday gifts?
* 4973 responses
Under $100
9%
$100 to $250
17%
$250 to $500
27%
More than $500
46%

Where do you plan to do most of your holiday shopping?
* 4923 responses
At the mall
33%
At big discount stores
33%
Downtown or neighborhood stores
9%
Online or mail order
24%


http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=238912

MSNBC: Economists predict strongest holiday season in 4 years

A season of merriment at the malls

Economists predict strongest holiday season in 4 years

After last year’s lackluster holiday season, many forecasters expect sales of general merchandise to grow 6 or 7 percent over last year’s level, which would make it the best season since 1999.

“Everything is coming into place to create a strong holiday season,” said Mark Vitner, senior economist at Wachovia Securities. “The economy is clearly gaining momentum. … Consumer confidence is rebounding. The stock market has been up.” Even the weather has been cooperating across much of the nation, Vitner said, pointing to recent subfreezing temperatures, which he said is a prerequisite for sweaters to move off the shelves.

http://msnbc.com/news/996662.asp?0cv=CB10

[ChangeMan]

11. What Do You Expect

with so many unemployed and under-employed, retailers will be lucky to break even.

Once Wal-Mart and target lowered their 4th quarter projections. it seemed evident that Xmay was not going to save anybody.

[schultzee]

16. I started spending less when the Corp fascists starting privatizing

any and everything they could. Now I try only to buy the necessities and that from local merchants. Screw Wallmart the slaver, screw the big chains, screw all of them. I will even buy in re-sale shops to not help the Liz Clairborns of the world make more money after taking our jobs. Screw all of them

[montana_hazeleyes]

17. I don't celebrate any of these holidays, but,

I'm going to restrict my buying to only necessities 'til after Christmas so they won't be counting anything much from me.

[hatrack]

18. I'm giving people homemade beer and mead for presents this year

We'll also make some charitable donations, and maybe kick some bucks to a Democratic campaign or two.

But the Greenspan and The Guilt Santas can go screw themselves as far as I'm concerned!

[0007]

19. Christmas came early this year for us old folks'.....

Now I can look forward to enjoy the new Medicar Bill. I can't wait.....

[NickB79]

20. Someone stop this ride, I wanna get off

All these contradictory stories are making me sick.

Oh, and who here agrees that this will be buried on page Z75 of any newspaper that runs it? Can't upset the status quo, can we.

[RobinA]

21. Hilarious

What a crock. The average household spends $455? I seriously doubt that. Is that what people say they spend, or is there some math to it? I put that in the same category as "The average person says he exercises more" or "The average person says he eats fewer calories than last year."