http://www.msnbc.msn.com/id/6737611/
Traffic has apparently been poor at many retailers. Interestingly, Wal-Mart noticed a slight uptick in winter merchandiser after a poor sales report from last month forced them to slash prices. Is the boycott working?
Interestingly enough, the reason for the slump can be attributed to the fact that people just dont have enough money:
Frankie Pumphrey of Oak Forest, Ill., who was at the Lenox Square Mall in Atlanta, said she will spend less than a year ago on holiday gifts, as she is on disability. She was buying a few items for her grandchildren.
"The money's just not there, and the cost of living is just so high," said Pumphrey, who was in Atlanta visiting her family. "The bare necessities take up all your money."
I live in Atlanta, and remember seeing a news segment on the day after Thanksgiving where a reporter asked a bunch of people at a local mall how much they were spending on gifts. Most replied with a small figure, again, noting, "I just dont have enough money this year" or " that's less than last year." I dont get it, all I've heard is tax cuts, tax cuts, tax cuts! from Bush and yet people dont have enough money. Hmmm. Those people that thought the Christmas Season would be a tow truck and carry the broken-down car that is the economy will be disappointed.