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Excuse me while I run out and short some stuff...

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November 14, 2008 – Comments (7)

Very interesting numbers here.

Starting with:

Shoppers around the country say they are planning to spend an average of $431 for gifts this holiday season, down from $859 last year according to the twenty-third annual survey on holiday spending from the American Research Group, Inc. The overall average planned spending is down almost 50% from 2007 and it is the lowest level of planned spending recorded by the American Research Group since 1991.

That sounds very, very grim. 

Found this via calculated risk...

7 Comments – Post Your Own

#1) On November 14, 2008 at 12:56 PM, hansthered0 (< 20) wrote:

interesting....

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#2) On November 14, 2008 at 1:32 PM, EScroogeJr (< 20) wrote:

An alcoholic always says he's planning to stop drinking next year. But when the next year arrives, it turns out his drinking habits haven't changed.

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#3) On November 14, 2008 at 3:16 PM, jgseattle (34.16) wrote:

EScroogeJr - the difference here is if you do not have CASH the bank can stop your drinking/spending.

 

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#4) On November 15, 2008 at 12:54 AM, Option1307 (29.68) wrote:

If this pans out as predicted above, the holiday season and thus companies are going to have a horrid 4th quarter...Not bad, or crappy, but straight horrible. This will mean significantly more losses and job losses after these comapnies report early 2009, scary stuff if this turns out to be true...

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#5) On November 15, 2008 at 12:57 AM, darkbite (95.38) wrote:

So on the bright side, if there is one, is that maybe, just *maybe*, we will all realize that materialism does not equate to love and that the holidays is to be with loved ones, not spend time finding gift cards.

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#6) On November 23, 2008 at 12:40 PM, jgseattle (34.16) wrote:

darkbite - I agree 100%.  I returned from living in China for 2 years recently.  Xmas is marketed huge in China yet only a very few understand the underlying meaning and what Xmas celibrates.  In China it is a marketing campaign.

This year on my return I told my family that I was not going to participate in the marketing of Xmas, 0 spend.  I will spend time with my familly, I will cook for my family, I will decorate the house with my family, I will go looking for Santa on Xmas eve, I may even attempt to build a little gift my nephew wants, but I am not going to buy anything for anyone and expect nothing from anyone.

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#7) On December 01, 2008 at 12:50 PM, amassafortune (29.45) wrote:

Nice title. The annual holiday bag counters on Friday reported that the shoppers' bag count was down 35-40%. I was in a few stores on Saturday and all was calm, so it was curious to me that a 3% year-over-year increase was reported by the end of the weekend. It could be that flatscreens, GPS devices, and blue rays kept the dollar total up, but even if it did, the margin must have taken a huge hit to make it happen. 

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