November 28, 2007
Consumer Confidence is Down, People Spending Less
USA Today mentions client Retrevo.com as one site of only three to check out in advance of holiday purchases this year. The message and lesson: do your research in advance. Don't necessarily trust that the sales person will have your best interest at heart OR be the most knowledgeable resource about what you need, particularly in the world of consumer electronics, where there are a plethora of choices.
Consumer confidence is way down, people are spending less and everyone is talking about recession. Says the New York Times only last week - Holiday Sales Climb but Consumers Spend Less. Bloomberg has related news.
And early stats from ShopperTrak RCT and National Retail Federation show that while revenues have increased, the average spend per consumer has decreased from $360 last year to $347, a 3.5% drop. Shopping online increased by 37% and discount stores were up 11% over last year, a clear indicator that consumers are looking for bargains and ways to get the best value.
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