Word: holidayers
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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...
...only 6% of spouses said they would cut back on gifts for each other, so in just two years the number of spendthrift spouses has increased almost nine-fold. "This holiday season, parents are telling us that they still worry about job security, and they are desperately trying to cut down on debts," says Beemer. Even the pooch may be getting better treatment than Pops. In a separate Consumer Reports survey, 22% of women who expected to reduce their holiday spending said they would be cutting back on gifts for their spouse. Only 14% said they would cut back...
...from the pressure-cooker atmosphere he was once used to. "Here there's a community of people with a lot of free time to see one another," Andorlini says. "In Milan if you're not working at 8 p.m. you're not successful. I feel like I'm on holiday." The conversation quickly turns to comparisons. "Berlin is like Paris in the '30s," Andorlini says. "It's a place where artists gather and things spring out of nothing." Grazioli isn't so sure. "It's more like New York in the '60s," he says. "All those abandoned lofts in SoHo...
...this year's Black Friday began early, with many retailers pushing holiday ads while pumpkins and Halloween costumes were still on store shelves. Wal-Mart shot the first volley when it launched a price war last month with online retail giant Amazon.com over books. Walmart slashed the price on 10 of the most anticipated hardcover books to $10 a pop for shoppers who preordered the new releases through its website. When Amazon matched the price a few hours later, Walmart trimmed the price to $9 apiece and then $8.99. Rival Target, not to be left out, has since matched this...
...reduce the risk of another round of panic selling, Saks and other retailers have ordered up to 20% less inventory for this holiday season. "You clearly aren't going to see the kind of discounting that you saw last year," says Sadove, although he doesn't rule out 70%-off sales being held at the end of the season if there's inventory left...