Despite Economic Crisis, Holiday Spending May Actually be Up!
The National Retail Federation reports that American consumers plan to spend “only” $832.36 on holiday shopping this year. But that is still a 1.9 percent increase over last year! In other words, while the world plunges into economic crisis, while people lose their homes and their jobs, and some even go hungry, American consumers are actually planning to spend more than last year celebrating the “winter holidays!” Although this represents the lowest increase in planned consumer spending since the NRF survey began in 2002, it is still an increase. In a time of financial fear, and very real human suffering around the world, is this good news or bad? We take a closer look at holiday spending patterns and ask, “How much is enough?” Continue
