Shoppers disappoint retailers this holiday season

[Omaha Steve]

Source: AP-Excite

By DANIEL WAGNER

WASHINGTON (AP) - U.S. shoppers spent cautiously this holiday season, a disappointment for retailers who slashed prices to lure people into stores and now must hope for a post-Christmas burst of spending.

Sales of electronics, clothing, jewelry and home goods in the two months before Christmas increased 0.7 percent compared with last year, according to the MasterCard Advisors SpendingPulse report.

That was below the healthy 3 to 4 percent growth that analysts had expected - and it was the worst year-over-year performance since 2008, when spending shrank sharply during the Great Recession. In 2011, retail sales climbed 4 to 5 percent during November and December, according to ShopperTrak.

This year's shopping season was marred by bad weather and rising uncertainty about the economy in the face of possible tax hikes and spending cuts early next year. Some analysts say the massacre of schoolchildren in Newtown, Conn., earlier this month may also have chipped away at shoppers' enthusiasm.

FULL story at link.



Read more: http://apnews.excite.com/article/20121226/DA3DA1J01.html

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In this Thursday, Dec. 20, 2012, photo, a holiday shoppers reflected in a ornament handing from a large Christmas tree at Fashion Island shopping center in Newport Beach, Calif. Thursday, Dec. 20, 2012. U.S. holiday retail sales this year are the weakest since 2008, after a shopping season disrupted by storms and rising uncertainty among consumers. A report out Tuesday that tracks spending, called MasterCard Advisors SpendingPulse, says holiday sales increased 0.7 percent. Analysts had expected sales to grow 3 to 4 percent. (AP Photo/Chris Carlson)

[liberal N proud]

1. Maybe if the retailers paid their people a living wage...

Then people would be able to afford the goods they sold.

It is ridiculous that they expect increases year over year yet they do not give their employees increases year over year.

Couple that with all the threats from the politicians and talking heads about intentionally driving America into the ditch again and employees who are not sure if they are going to have jobs in the coming year, you get a lousy shopping report.

I know for one, we cut our holiday spending drastically because of concerns about my job in the coming months. You can't keep squeezing the people and expecting them to give you a return.

[eShirl]

2. economy's been bad so long, a generation is learning to live with less

[R. Daneel Olivaw]

33. "economy's been bad so long"

The Bad economy
Brought to you by

BushCo/GOP

Tax cuts for the super rich

Endless war

Offshoring

Wall Street

Austerity

Established 2000


Yes, the economy and American worker has been taking hits far longer than that...since about 1973, but it certainly accelerated with Dubya as hasn't really recovered since.

12 god-damned years.

[woo me with science]

46. Thank you. The corporate media talks about the economy as though it were weather

rather than the predictable result of predatory corporate policies designed to funnel money from the poor and middle class to the rich.

[hobbit709]

3. What part of "The consumer has no money" did they not understand?

And I noticed that a lot of the stuff on sale was 10-15% higher after Turkey Day than it was before-some "sales"!

[R. Daneel Olivaw]

34. They could cut their plastic Chinese crap to %80 off and some wouldn't be able to buy it.

People are spending their money on other luxuries like food.

[abelenkpe]

52. There will be no recovery until wages rise and jobs are more secure.

You're so right about those holiday "sales" too.

[wordpix]

62. +1000

[Blandocyte]

4. Big Mouthed Billy Bass ruined me for all retail products

It was the ultimate Xmas gift; I can't bring myself to buy lesser things now. Sorry retailers.

[djean111]

5. It is quite a conundrum, isn't it?

Being told to tighten our belts so the 1% can have their goodies, but still being expected to buy things.
Maybe this wasn't really thought through........can't buy stuff and save for old age without social security and medicare on Wal-Mart wages, can we?
Shouldn't go out and buy a bunch of stuff we don't need and still become self-sufficient, can we?

Dumb-asses. It takes a while, but austerity may be the first thing to actually trickle up.

[Paper Roses]

6. Well said. n/t

[Liberal_in_LA]

23. +10

[DeschutesRiver]

60. "Austerity may be the first thing to actually trickle up" - that is perfect. nt

[Sekhmets Daughter]

7. Hallelujah!

[Bluenorthwest]

8. Retailers sell garbage not worth purchasing. Poor quality, high prices, tight budgets....no sale.

nt

[L0oniX]

58. +1 ...even the Chinese don't want to buy their cheap ass shit.

[Cobalt Violet]

9. Guess the 1% having all the money isn't working out as planned.

Share some profits and people will have more spending money.

[Earth_First]

10. Boo fucking hoo...

We cannot spend what we do not have.

[tavernier]

11. The country hangs by its thumbs

while a handful of racist, sexist, mouth-breathers attempt to dictate our financial and moral future. It's kind of like being mugged and kidnapped by Ted Nugent.

[Evergreen Emerald]

19. This^^^^

[freshwest]

43. There it is!

[Le Taz Hot]

12. I don't suppose it could possibly be that

Last edited Wed Dec 26, 2012, 02:34 PM - Edit history (1)

people are unemployed and no longer receiving UI benefits, people are under-employed, working 2 and 3 part-time jobs with no benefits and/or employed in jobs paying 60% less than what they did 10 years ago. It is a fallacy that the Great Recession is over. It's not and it's not going to be as long as this Congress and this White House buy into austerity measures and are perfectly OK with 80% of the wealth in this country concentrated at the top 1%.

[R. Daneel Olivaw]

35. "It is a fallacy that the Great Recession is over."

Amen.

[In_The_Wind]

13. I'm not surprised.

I don't expect we'll see a record amount of sales today in the traditional after Christmas shopping.

[Habibi]

28. You may be right.

My husband and I went out around 9 this morning to hit the gym and do a couple of grocery errands. Usually I don't like going out on the 26th any more than I like it on the 24th--the after-Christmas bargain-hunters are just as big a crowd as the desperate Christmas Eve shoppers. Not this year. It was fairly quiet in the big suburban shopping district near us. I was kind of amazed.

[In_The_Wind]

29. I stay away from malls on 12/24 and 12/26 to avoid the traffic jams.

People seem to become frantic the closer you get to the holidays.
I think of it as Guilt Shopping.


I'm glad you were able to go out and about easily.

[booley]

14. I know I bought only a very few presents this year

and most of those I bought well before black friday (which i didn't participate in)

I simply don't have the money anymore. I have bills past due so i certainly couldn't cough up money for gifts.

Already told people I will buy their gifts after christmas if things get better.

I don't think I am the only one who had this problem

[R. Daneel Olivaw]

37. "I don't think I am the only one who had this problem."

You're not alone.

Times are tight, and "We the People" bear the burden. Our politicians plan for things to get worse; all the while enjoying free healthcare and not having to worry about their retirement.

[llmart]

54. Groceries have become a discretionary budget item for me.....

Never thought I'd see the day.

I and my two grown kids bought very little this year. We did the one small present each this year. We still enjoyed our time together. Screw the big box, crap from China items. I actually think our country would be better off if the shopping as a hobby habit went away.

[R. Daneel Olivaw]

59. Lots of us are right there with you.

[llmart]

61. Thanks! I know that.

I'm sure there are many, many people who are a lot worse off than I am. Hell, starting in January I'm getting a $16 a month raise from Social Security, so I might just start looking into those cruise packages now

[TruthTeller]

15. Between "Fiscal Cliffs" and Michigan political dirty tricks...

just before the holidays, I know that influenced my spending. In addition, I prices were not that great. I am tired of paying high prices so that the retailers make money at the expense of the workers.

I think I need to remind my congress critter from MI that I spent less due to their "fiscal cliff" crap. Email on!

[Remmah2]

16. Is buying less stuff from China a bad thing?

We're campers/outdoors people in our house. We exchanged premium wool blend socks and poly blend thermal underwear. All was produced by various mills in North Carolina. Honestly, all this plastic and electronic import stuff grrrrrrrr.....

My new sister in law and my brother cranked out home made cookies and grape jelly.

How much of the imported plastic, heavy metals and batteries will end up in the garbage within the next 12 months only to start the cycle all over again?

[rurallib]

17. so tired of conflation of the political right and religion in this country

christmas is just another time for them to hoot up their ideas of salvation.
So this year we said fuck it. We got some nice gifts for our Grandson, and a couple of simple gifts for the kids but nothing like previously.
The right has won their war on christmas. We will celebrate the return of the sun from here on out. And the sun doesn't say anything about buying gifts.

[Tempest]

18. Wait for the report on luxury good sales during Xmas

I'll bet you $10,000 luxury good sales saw a healthy increase.

[leftyohiolib]

20. AND there they go blaming everything but what they problem is

workers arent be paid enough to buy stuff design to last only a couple of years before what they had to have breaks burns out or otherwise quits working. i wasw told but a refridgerator repair tech that we were "lucky" to get 8 years out of our fridge

[exboyfil]

22. Hold on to your old appliances

Our frig came with the house when we purchased it 13 years ago. It is going like a trooper. Same for our washing machine purchased 24 years and four moves ago - the Kenmore is still going. Unfortunately its dryer mate was replaced about five years ago, and we have had a major repair on its replacement in the interim. The stove is 13 years old (bought with the house) and still going strong.

[1monster]

21. Retailers disappointed this shopper this year. I didn't have a lot of money to spend, but

I did have some and couldn't find much at all that I wanted to spend it on...

[exboyfil]

24. I bought a professional grade clarinet

for my younger daughter so she can try for All-State next year, and I bought a Canon T3i for my older daughter so that she can do her video and stills (she plans to enter a bunch of video contests). Also for some clothes (to be used for work and school because current clothes have worn out). That is it for major spending (made some gifts to charities in others names who did not want gifts). I spent a lot for us this year (the camera and clarinet, but I probably was not what the retailers had in mind).

[fredamae]

25. Cut jobs, cut pay, health care increase

taxes & fees and the Retailers are disappointed? What bs--what is the logical expected outcome?
Less money, more benefits to the wealthy And they want us to buy stuff with money we no longer have?
Besides, who wants to be a moving target in a mall or anywhere else?
Additionally, I believe the gun issue/crises and rising number of incidents in public are Going to impact the economy at some point.

[lunatica]

26. We're beginning to really puzzle them and I like that

The people of this country are speaking with their wallets. I hope this is only the beginning and that we break their collective economic grip on us.

Bring back the consumer driven economy and to hell with the supply side crap.

Let them suffer austerity for a change.

[windowpilot]

27. Poor China...

n/t

[slackmaster]

30. Several recent posts point out that Brownell's of Montezuma, Iowa is doing quite well

[magical thyme]

31. I got my 1st Christmas gifts in 3 years

I bought several pairs of "fuzzy sox" because the fuzzy sox I got 3 years ago have lost their extra soft fuzz and some are starting to get holes. This year I found them early, so got the fun, bright colors.

I was at the pet store getting seed for my African Weaver finch and they had a 8" tall Pokey (Gumby's horse) dog toy. I bought it for myself...it is sitting on my new desk at my new part time job, which will ultimately replace the per diem hospital lab job that I've been semi-starving on.

I also bought myself a few Windham Hill CDs -- the rare Christmas music that reflects the true spirit of the season. My tapes from the 80s all broke when I tried to play them back at Thanksgiving.

For my dogs, this morning I got them Lobster Bisquits on twofer sale. Plus I had a $10 certificate at that store, so I essentially got the bisquits free and my lab-x's hip meds at a 10% discount.

[Kalidurga]

32. That's really funny, retail has disappointed me for years.

Shoddy goods, over priced, and they pay their workers next to nothing. So, I have been cutting down on shopping for about a decade now. If I don't need it I don't buy it. Now I am also slashing my grocery bill. This has resulted in a weight loss so that is a good thing it might save my life. Now, I have oatmeal for breakfast that is uber cheap. I make a lot of dishes with beans. And buy most all of my other food fresh. So, there take that retail and grocery stores stocked with a bunch of crap we don't need and can't afford anyway.

[CountAllVotes]

36. Maybe if interest rates weren't so low

People might have some money to spend from their "savings" which doesn't much exist any longer thanks to this Bernanke >1% interest crap. It is literally finishing off the middle-class folks out there that do not participate in the Wall Street casino.

So, no money nor savings to spend = Xmas spending sucks and they wonder why?

Such idiots, all of them.

[sendero]

38. Has anyone else noticed...

.... the dearth of "news" about retail sales that we usually get starting Thanksgiving?

This year it's like there is a total blackout. One more bit of proof that the MSM reports what they are told to report and nothing else.

[TwilightGardener]

39. My holiday spending has never been influenced by any outside factor.

Not the weather, not massacres and tragedies, not broad economic concerns or the possibilty of tax increases. The only thing that influences my spending is the $$$ in my account and who is on my gift list, and what they want this year.

[AngryAmish]

40. No shit, we are fucked economy wise

[Fumesucker]

41. I've been shopping yard sales, flea markets and thrift stores for months

I only buy for the kids anyway so that makes it easier.

Got a vintage Handy Andy tool set for $3 for one little boy.



And a super kite for $15



Some coffee table art books for $1 - $2 each





I had no idea how good a deal I got on this puzzle until just now, $1.50 and it's $22 at Amazon, it was still pristine in original wrapping so I know it's all there.

[Brigid]

42. OK, so when do we get to the point where . . .

Retailers can't afford to send all that frickin' junk mail? That's really become my latest pet peeve. It's really irritating.

[humblebum]

44. We have already started over the cliff. Question is, is bungee cord attached? nt

[lovuian]

45. A depression happens when 90 % of country's assets is owned by a few

and that is why we have noone buying

Unless people have good paying jobs ....a capitalistic system doesn't work
what will happen if we don't give people good paying jobs

then a revolution or socialism takes place

the worker will rise up

Marx is right

[malthaussen]

47. Since the rich are getting all the money already

... why should they care about retail sales? All that does is add in another step from the people to their pockets.

-- Mal

[hedgehog]

48. A good chunk of my money went to a kid who has been out

of work for a while. I would have given her more, except that my budget's been stretched, too.

[Alamuti Lotus]

49. Retailers set unreasonable expectations yet again, too bad so sad...

the whole notion belies a few incidental points about their everyday practices, perhaps they should address those first.

And if anybody needs to know why their advertising campaigns were a flop, they should be forced to watch a few Target commercials and then report back. Some clues lay within.............

[magical thyme]

50. Funny thing about that. I visited our local animal shelter this afternoon

They were jammed. Tiny rural shelter, they had already re-homed 12 cats in one day. Although I went there to donate my Polly's remaining cat food, I ended up leaving with kitty #13. There was another family picking out a black cat. And as I left, a young woman was coming up the stairs with a carrier. She confirmed to me she was planning to adopt a kitty as well.

Maybe we've changed our priorities to giving loving homes to the homeless. It sure beats being slaves to plastic junk so a few people can be billionaires.

[Brigid]

56. Now that's how to spend the day after Christmas!

Giving a doggie or kitteh a new loving home!

[aquart]

51. Did the fiscal cliff frighten them off?

[Trajan]

53. Not only should they pay a living wage ....

But they should promote reasonable taxation structures that include the rich, paying their fair share, and by making sure working families have the things they need to grow and prosper into successful contributors to society, and to support the 'consumption' structure that retailers seemingly promote for their own accumulation of wealth ....

A strong and healthy middle class buys goods from retailers - EVERY time a retailer promotes ANTI worker initiatives, they suffer a loss at the cash register ..... This aint rocket science ....

[Hoyt]

55. After several years of self-imposed austerity, people realize they don't need all that crap.

That's good in many respects. But economically/fiscally, this country is going to have to make some big changes. It won't be pretty.

[L0oniX]

57. You can't afford to buy gifts when you work for Walmart.