The headline reads, “Retailers’ holiday sales plummet 4 percent“.
Retailers’ sales fell as much as 4 percent during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to data released on Thursday by SpendingPulse.
The figures, from the retail data service of MasterCard Advisors, show the 2008 holiday shopping season was the weakest in decades, as U.S. consumers cut spending as they confront a yearlong recession, mounting job losses and tighter credit.
Four percent is a plunge? With unemployment nearing 8% and everything else going on with the economy, they think 4% is bad? Think about it…
If a retailer usually makes $1,000,000 during the holiday season, they (on average) only made $960,000 this year. Most of the major retailers who will be bitching about the 4% “plummet” make far more than that. They should be thankful holiday sales only fell four percent and not a lot more, like it did at the Gap or A&F.
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