Have you cut back on holiday shopping? I know I have to a certain degree. And plenty of other consumers have as well. The current state of the economy means that many people just aren’t that interested in spending a great deal of money right now. And that’s fine. There are plenty other thoughtful gifts (including gifts of time) that you can give — gifts don’t have to be expensive or come from a store.
Online holiday sales fall for first-time ever
Since the advent of ecommerce, online holiday sales have risen steadily year-over-year. Not so much this year. For the first time every, online holiday sales have dropped during the first 49 days of the holiday shopping season, according to ComScore. “Only” $24.03 billion was spent, compared to $24.15 billion last year.
This, of course, goes beyond just meaning that consumers are making wiser spending decisions. It also means that earnings are likely to drop for companies, and that the recession is not going to get any better anytime soon. We could see another round of lay offs and some stock market volatility as the New Year begins.
Perhaps, instead of focusing on big businesses to get money, politicians should start considering a bailout for individuals. That is, if they are serious about getting consumers to spend money in the name of economic stimulus.
Take the poll: How much are you spending on holiday shopping?