Cyber Monday and the few days leading up to Black Friday showed gains over the 2012 figures, decent gains, but still along the expected trend line, no major breakouts or attempts to go hyperbolic. And of course, we don’t have any figures for electronic money like BitCoin transactions in these 2013 numbers, but you can bet major retailers are considering ways to tap into that, just as our politicians in Washington DC will soon try to figure out how to tax those secure transactions.
The 2013 Christmas shopping season might be bad for a few reasons; late Thanksgiving, fewer days of shopping, weather, and consumers feeling poor knowing ObamaCare will cost them more, so the Middle Class might be more prudent and go light on shopping – right now everyone is counting on the Credit Card companies loosening the reigns to promote consumer buying – I wonder if that will help as much as Wall Street and retailers hope. If retail sales tank, our stock market pull-back could come sooner than later, another jobs hit with layoffs and seasonal workers all out of work at the same time.
The Wall Street Journal reporting that sales were expected to grow 3-4% over those of 2012 Christmas Season in an article; “Sales Brighten Holiday Mood” by Josh Mitchell and Shelly Banjo, which stated, you know “that government shutdown? Consumers shrugged it off, mostly.” Now then, back to the ObamaCare issue, Wal-Mart noted that their surveys and sales figures show that the consumers are tapped out and their spendable income has dwindled – one common comment is the cost of health care increases are making it harder for people to buy things, less money.
Personally, I do not see this Christmas Season as breaking any speed records, but it is nice to see all the retailers ramping up with seasonal hiring, which helps unemployment numbers temporarily – which helps consumer confidence, but there is a difference between temporary good news and actual spendable money in one’s pocket. What about Credit Card Companies?
Yes, people spend for Christmas presents on credit card, and that probably makes them feel good from their depression of lack of cash, but how much will they blow during this holiday season as they watch their family’s costs increase to the point of overwhelming there dwindling income as their hours are cut, again due to ObamaCare. In closing do not expect a huge Christmas buying season, but it won’t be a disaster either. Please consider this and look on the bright side.