Speaking for myself and people I know, many either skipped Christmas shopping this year, cut back on the gift giving or otherwise generally reduced their Christmas expenses. For the first time ever, (except the time I was injured and had to go into the hospital the next day) -- I didn't do Christmas and when I say didn't do, I mean I did nothing except remember the reason for the season and make a few phone calls. I can think of at least two dozen people that I know who also either didn't do Christmas or cut way back.
The final numbers won't be out until January but looking at a few articles that are already reporting tells us the indicators aren't going to show a good season for sales this year. In spite of the fact that the lame stream propaganda machine tells us otherwise, most of us are living the reality of a bad economy with few hopes for job growth in site. I believe the cherry on the top of the cake of American's lack of confidence is the recent awakening to what the nightmare of Obamacare is really all about. When one expects their rates to skyrocket and deductibles to rise along with higher prices for health care insurance, this puts a serious dent in financial budgets.
Below are excerpts from attached articles.
Brick-and-mortar retailers saw no signs of relief last week, as store traffic in the final week before Christmas posted the third straight week of double-digit declines, according to the most recent report from ShopperTrak.
According to the analytics firm, traffic for the week ended Dec. 22—which included the crucial final weekend before Christmas—was down 21.2 percent year over year. The first two weeks of December saw double-digit decreases, which trailed a 4 percent decline over Black Friday weekend, it said.
In-store sales fell 3.1 percent from the same week in 2012, ShopperTrak added.
Target Corp. isn’t the only retailer TGT +1.20% preoccupied with damage control. Retailers, in the final countdown to Christmas, are up against disappointing sales in their biggest season of the year.
One more sign sales missed the mark: retailers’ in-store sales for the week ended Sunday, Dec. 22, fell 3.1% from a year earlier while traffic plunged 21%, according to traffic tracker ShopperTrak. The decline is worth noting because Friday, Saturday and Sunday, along with Black Friday, were expected to be among the top four shopping days of the season.
The performance compared with ShopperTrak’s original forecast of sales increasing 2.4% and traffic declining 10% in November and December combined.
Sales in November and through Dec. 15 also have missed the mark, up 2% even though November sales itself was a bright spot, up 3.4%.
We all know that U.S. retail sales depend on the Christmas season for as much as 40% of their annual revenue. But all signs are pointing to a rather dismal retail sales for Christmas 2013.
That’s Hope and Change for you!
ZeroHedge reports on Christmas Eve, Dec. 24, that average holiday spending is expected to decline for the first time since the Great Recession-Depression began in 2008, despite record promotions and an ever earlier start of the buying frenzy on Thanksgiving day instead of the traditional Black Friday after.
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