This past weekend, since I had a couple of things to pick up, and it was the start of our Christmas shopping, your favorite southern couple went to the mall . While we were out, we decided to do a little economic research that we are now going to share with you. I won’t be sharing any names of stores or people, as I want to respect the privacy of these people, since they were only used for discovering general information.
The first bit of information I wanted to share is definitely exciting, and that is that more people are paying with cash! According to certain retailers (these businesses do not sell luxury goods, just so you don’t think I’m speaking of $1,000 handbags or something), a significant number of their sales so far this year have been in cash, compared with last year, where there were more credit card sales. This is a wonderful bit of information! Now, it’s a small sample, and it’s in my local community, but hopefully it’s at least partially indicative of the way people are shopping this season. I hope that it means more people have saved up for the holidays this year, and aren’t spending more than they make!
Another bit of information we ran across from a national retailer is that the sales are not going to be as good as they were last year (I know, bummed me out too)! According to our source, last year, many of the typical stores you find in your local mall got caught with a ton of extra inventory and slashed prices to be able to move the inventory toward the end of the holiday season. This was great for people, last year, but it also means that they learned their lesson, and this year, retailers won’t (or haven’t) have ordered as much inventory, so the deals that were there last year, won’t be there this year. This is some really unfortunate information, but at least it will keep us focused on finding the best deals this season!
All in all, I still think it is going to be a wonderful holiday season. Just keep in mind that cash is the way to go. Not only will it save you from being credit card poor in January and February (and March?), but it will keep you focused on getting the best possible price! Look out for deals that aren’t deals. Compare prices. Use lay-a-way (making payments on an item that you will not be able to take home until the item is completely paid for) and just be sensible. Remember how your parents and grandparents shopped for the holidays…they saved for it!
Tags: accountability, Budgeting, economy, Personal responsibility, Shopping, Spending Money
