Bad sign: Shoppers use gift cards for groceries

[Warpy]

http://www.msnbc.msn.com/id/23046118/

WASHINGTON - Here's a sign of how shaky the economy has become: Wal-Mart says its shoppers are redeeming their holiday gift cards for basic items — pasta sauce, diapers, laundry detergent — instead of iPods or DVDs.

Merchants had hoped shoppers armed with gift cards would provide a lift after a dismal holiday shopping season — partly because shoppers tend to spend even more than the value of the card. But that didn't seem to happen last month, and retailers are feeling the pain.

On Thursday, the nation's retailers turned in their worst January in almost four decades as high gas and food prices, a slumping housing market, tighter credit and a tougher job market pushed consumers to the edge.

(gee, fellas, ya think?)

Sales at 43 retailers surveyed by the UBS-International Council of Shopping Centers rose just 0.5 percent in January, well below the original 1.5 percent forecast.

[Kermitt Gribble]

1. I recieved a visa gift card for Christmas.

I've been holding on to it to use for new tires.

[SlipperySlope]

2. I got a Visa gift card for my Birthday

I Spent it on gasoline.

[nightrider767]

3. Good signs...

Let people spend money on what they need.

I just spent the afternoon cleaning out my garage, throwing away a huge garbage bin full of stuff I didn't need. Not only did I blow my money on it, but it's now heading for a landfill. I learned a lesson.

And oh yeah, the garbage didn't get the three boxes of pretty good stuff I took to Goodwill.

[Warpy]

4. I've been doing that for 3 years

slowed down by a bad back and near blindness and a series of broken bones.

I've taken multiple loads of clothing to the thrift shop that sustained me while I was poor. I've called Aunt Sally to pick up a bunch of furniture. I've carted backpack after backpack full of books down to the library. I gave fully half my CD collection to charity. Redundant kitchen gear went to the thrift shop.

Then I got robbed of a whole bunch of stuff and almost felt relieved that the load was lightened even more, even though I resent the loss of my parents' wedding rings.

Still, I often feel I'm drowning in STUFF.

I've got a long way to go.

[nightrider767]

5. Well you take care Warpy

Seems like you are an A-1 kinda of person.

Sorry to hear about the theft.