Business

Holidays are coming
by Claudia Sonea

Holiday season is getting closer and people are already planning to buy gifts or at least to save up money to buy them. In most countries people actually pay in cash for the presents and that is a very good thing, however, in US the main problem is that they still use the credit cards not being aware of the money they will have to pay back and forgetting about the financial and economical crisis.
According to BIGresearch (a poll conducted on 8758 people) and the National Retail Federation's 2008 Holiday Consumer Intentions and Actions Survey this year this year the number of U.S. shoppers that plan to use credit cards to buy gifts has decreased. At a closer look, you will notice that the figures are not that encouraging and not that many people will pay cash: 41.5 percent will pay with debit and check cards (last year- 40.1); 22.8 percent will pay cash (22.1 last year) and 31.5 percent will use credit cards (32.3 last year). Also I should mention that three-quarters of shoppers said they purchased less than 10 percent of the gifts for this holiday season.
On the shoppers’ lists the top gifts were clothing, music, books and new video game systems. Then next on their lists came electronic items, toys, gift cards or gift certificates, jewelry and others. Retailers also have prepared holiday deals that are meant to lure in the shoppers and they already started to cut prices. The discounts could be irresistible to shoppers and the retailers are counting on that. Otherwise, this season could be the worst one in the last decades.



related story: http://news.yahoo.com/s/nm/20081117/us_nm/us_retail_holiday;_ylt=Alpo7qBSbVS3QKMvcazCn3ys0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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posted by Blog TechSource @ 5:37 AM