2008.11.19
A different holiday season
Last month while I was interviewing people locally about ways they have been reigning in spending, I met Mary Bazzell. Bazzell of Roanoke County said she's cutting back her budget so much that Christmas will be different for her and her family this year. They're not exchanging gifts at all.
Much of her family lives in Illinois, and when I spoke with her, she was hoping that she could afford to visit them this year. Bazzell works full-time, but she's nearing retirement.
As the holidays approach, I'm wondering if your Christmas will look differently than years past. How is your holiday spending changing? Some families are making significant alterations, such as drawing names rather than buying a gift for each person.
An increasing number of American consumers plan to spend less money, rather than more, this holiday season. According to the NPD Group's consumer intentions survey in October, 26 percent of people said they will spend less, compared with 18 percent in 2007. Also, 11 percent of those surveyed said they will spend more money this season. As for the rest, 63 percent of people plan to spend the same amount on gifts.
Here's a breakdown of the top 10 most popular gifts this year and the percentage of consumers who plan to purchase each, according to the NPD Group.
1) Apparel: 49 percent
2) Toys: 37 percent
3) Movies: 29 percent
4) Books: 27 percent
5) Electronics (t.v., computers, digital cameras, MP3 players, etc.): 23 percent
6) Video games: 22 percent
7) Accessories (bags, watches): 20 percent
8) Music: 20 percent
9) Food: 17 percent
10) Fragrances: 17 percent
We're probably going to spend about the same amount as in past years, but on different things than usual. Instead of buying gifts and gift cards, we're going to send cards and host a dinner for close-by relatives. The money we would have spent on gifts this year we're instead going to invest in upgrading some aspects of our house and buying some supplies for a business my wife is starting.
Comment by Other John — November 19, 2008 @ 12:37 pm
Thank God electronic gadgets are less popular than books. The internet has resolved a few confusions of mine, created a horrible one, and otherwise hasn't add to me nearly as much as a book such as Mexamerica did, that was thrown out of a public library and ended up in a Goodwill.
People have to read, and relate what they read to their friends.
By the way, I read in Mexamerica, that for a foreigner to integrate, he has to read the novels of the country he is originated from. The internet never relates such pearls of wisdom. A frill?
Comment by Stuart Spurgeon — November 20, 2008 @ 5:53 am