Holiday Sales Were Dismal, New Retail Data Confirms

As quoted in this article, our country’s retail businesses have undergone “one of the worst holiday shopping seasons in decades.” After reading this story, it is clear that no matter how busy it may look when you go to the mall or even the ever-powerful Walmart, numbers have dramatically declined. And even after the sales have leveled off at an average 20 percent decrease this past holiday season, it is extreme price slashing and liquidation sales that are keeping our retail industry afloat with customers. “[However] by selling merchandise at staggeringly low prices, many stores trimmed their inventories and increased their same-store sales, but likely eroded their profit margins.”
Personally, I have tried to stay away from the mall this holiday season at all costs. Inspired by my parent’s smart bargain shopping techniques, I have used my precious Christmas shopping money at stores like TJmaxx and Marshalls, whose low prices have allowed me to buy more things for my friends and family. I have never used any credit cards, only cash. It’s bad enough that I haven’t had a job since I left for college, so it was my goal to be frugal with the little money I had. If the recession isn’t a clear sign that business would be bad, the fact that people like myself are avoiding department and specialty stores around this time of year should be.
Reading articles like this are depressing. They are a daily reminder that this country is in a deep recession, and recovery is unpredictable. Being in the upper middle class, my family has felt the effects of the recession. With the hefty prices of college and my dad out of work, the current gas prices have been our only benefit. He, along with 4.6 million other people out of work has been one of the worst unemployment rate year yet. In the mean time it is my goal to save as much as I can, and although the retail chains are lacking in sales profits, it has made this year’s holiday shopping a little more pleasant and affordable.

Author: Stephanie Rosenbloom