Word: gifting
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What might be the driving factor that lowers holiday retail sales and stalls a much-anticipated economic recovery? Stingy spouses with children. According to a new survey from America's Research Group, a retail-consulting firm, 50.1% of parents plan on cutting back on gifts to each other this year. That figure is up from 44.4% last year, a surprising jump considering that the U.S. was in the depths of the financial crisis during the previous holiday season. "Parents want to maintain gift-spending levels for their kids, so they are showing more willingness to trim on each other," says...
Thanks in part to these forecasted cuts in spouse-to-spouse gifting, Beemer is predicting a 2.9% drop in holiday retail sales, compared with a 2.7% drop a year ago. "I know some analysts are predicting positive numbers, but I just don't see it working out as well," he says. Given his track record - Beemer's sales predictions have been accurate within a half of 1% over the past 17 of 18 holiday seasons - the economy shouldn't expect a Christmas gift. "It's a heck of a challenging time," says Mark Israel, president of Hearts on Fire...
...also find a flurry of deals for both husbands and wives online. On the discount site Couponcabin.com, Ann Taylor is offering $50 off any $150-or-higher Web purchase through Jan. 5. You can get free shipping for Hammacher Schlemmer products over $89. Then there are the gifts that both Mom and Dad can enjoy. Restaurant.com, for example, is offering 50% gift certificates. Get a babysitter and leave the kids at home. More consumers are searching for deals: on PriceGrabber.com, the number of shoppers requesting e-mail alerts for low-priced offers...
Despite the temptation to spend, many spouses are still skipping the gift exchange. Matt Batt, a public relations executive from Chicago, and his wife usually spend about $200 on presents for each other. This year, they're cutting spousal gifts entirely, opting to spend that money on their 19-month-old second child and other family members. "This doesn't mean we love each other any less," says Batt. "We just want to do what's right for the Christmas spirit." Batt's a nice Santa for his son. But for companies that are counting on Dad's splurging...
Good evening. Please, don't be alarmed. You may call me ... Don Grossman. You might know me from such Facebook status updates as Don Grossman won a fight with your help! and Don Grossman sent you a gift in Mafia Wars. Yes, that's right. I'm in the mafia. Uh, wars. I'm in Mafia Wars...