Slow Christmas Spending Makes Retailers Sad
This early report comes from the folks at Mastercard. Growth in consumer spending from last year’s Christmas shopping season is a low 3.6%. While it is disappointing, it is not unexpected. Gas prices and economic pressures related to the housing market are major factors. I think another factor was the lack of cool stuff. I am a bit out of the loop, but I can’t think of an iconic must have toy for Christmas 2007. There was a largely failed attempt to get people worked up about a possible Wii shortage. There have to be more buyers than there are items for a shortage to exist.
“If you see one, buy it. Don’t assume that you can come back later and find one.”
On a brighter note, the same report says that online spending for the same period is up 22% from last year.
Sources for this story: NYT, engadget
