Episode Information

Retail Sales
Where We Live - with John Dankosky
Aired:
12/10/2008
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Tight financial times mean less money spent around the holidays

 

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52:00 minutes (24.96 MB)
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Analysts say many consumers are waiting to do their shopping until they see steep discounts closer to the holidays. Stores of all kinds are running promotions - big promotions - trying to get shoppers in the doors.

But what if they don't come? And what does a bad fourth-quarter mean to retailers in the state?

Today, Where We Live, a look at the effect the recession is having on shoppers and small businesses in Connecticut.  We'll talk to an economist and a marketing expert - and we'd like you to join the conversation.

Are you shopping less this holiday season? If you're a small business owner - what has the impact been like, and what are you doing to attract customers.Add your suggestions, questions and comments below!


 
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retail sales on holiday season




Economic recession has been a long time problem in our country. Retailers are also hit by this quandary due to the turning down of retail sales. The holiday season’s retail salesextra cash went to Amazon.com, the online retail giant, but overall retail sales went downhill. Mainstays such as consumer electronics and jewelry fell by 20% compared to last year’s figures. The value of convenience appears to have not diminished, as Amazon allows shoppers to be able to purchase gifts for virtually anyone, and the diversity of products outpaces any pusillanimous offerings by your local shopping mall. All can be done from the home, and you can even get next day shipping if you feel like paying extra. Amazon was one of the lucky few retailers not to see a loss this year, even though internet sales were down 1%. However, that paltry 1% is a blessing in comparison to the losses of other retail sections – luxury items such as jewelry took a hiding over the holidays, as the sales for jewelry fell 35%. Jewelry and electronics are typically mainstays of holiday shopping, and both suffered significant losses this year, even with new generation Blackberry, iPhones, and a multitude of platform games being put out and priced competitively for the holidays. Read this article to learn more about how retailers fared this holiday season.personalmoneystore.com/moneyblog/2008/12/26/retail-sales-fall-as-amazoncom-pulls-in-extra-cash/