SalemNews.com, Salem, MA

Nation/World

December 13, 2013

Holiday shopping spree not for everyone

NEW YORK — Many Americans are watching the annual holiday spending ritual from the sidelines this year.

Money is still tight for some. Others are fed up with commercialism of the holidays. Still others are waiting for bigger bargains.

And people like Lark-Marie Anton Menchini are more thoughtful about their purchases. The New York public relations executive says in the past she’d buy her children up to eight Christmas gifts each, but this year they’re getting three apiece. The leftover money is going toward their college savings.

“We told them Santa is ... being very conscious of how many gifts he puts on his sleigh,” Menchini, 36, says.

Despite an improving economy, most workers are not seeing meaningful wage increases. And some of those who can splurge say the brash commercialism around the holidays — many more stores are opening for business on Thanksgiving — is a turnoff.

But perhaps the biggest factor is that shoppers are less motivated than ever by holiday sales. Since the Great Recession, retailers have been dangling more discounts throughout the year, so Americans have learned to hold out for even deeper holiday savings on clothes, electronics and more. To stay competitive and boost sales, retailers are slashing prices further during their busiest season of the year, which is cutting into their own profit margins.

There aren’t reliable figures on how many people plan to shop during the holidays. But early data points to a shift in holiday spending.

The National Retail Federation estimates that sales during the start to the official start to season — the four-day weekend that began on Thanksgiving Day — dropped 2.9 percent from last year to $57.4 billion. That would mark the first decline in the seven years the trade group has tracked spending.

And during the week afterward — which ended on Sunday — sales fell another 2.9 percent compared with a year ago, according to data tracker ShopperTrak, which did not give dollar amounts. Meanwhile, the number of shoppers in stores plunged nearly 22 percent.

Text Only | Photo Reprints
Nation/World

Local News
  • 140765_SN_DLE_FESSENDEN4 Special Spaces transforms two downstairs rooms into playroom for Riley Fessenden

    BEVERLY -- What happens when the perfect kid-friendly playroom appears in your house overnight? Beverly's Fessenden kids were mostly speechless when they returned from seeing "The Little Mermaid" on Saturday and got their first look at the playroom t

    July 28, 2014 10 Photos

  • Beverly Hospital courier loses patients’ lab forms

    BEVERLY -- A courier for Beverly Hospital last month lost lab request forms for 54 patients that included names, health insurance identification numbers and, in some cases, Social Security numbers. The courier misplaced the forms, which were in a zip

    July 28, 2014

  • Big plans for three parks in the Point neighborhood SALEM -- One will be overhauled, another created from scratch, and a third will get a spiffed-up community garden. It's a good time to be a park in the Point neighborhood. The densely packed area just south of the city's downtown is on the verge of i

    July 28, 2014

  • Peabody could see school choice profit next year PEABODY -- After three years, the city's schools are projected not only to break even on school choice, but actually make a $30,000 profit. School officials expect to lose just under $300,000 in state aid next year for students who opt to attend scho

    July 28, 2014

  • 140723_SN_DLE_SALVARMY2 Dennis and Susan Knight take over Salem Salvation Army operation

    SALEM -- It was Christmas Eve in Sanford, Maine, but 8-year-old Dennis Knight and his three sisters had good reason to be short on holiday spirit: Their mom and dad had warned them there would be no Christmas that year. The family couldn't afford it.

    July 28, 2014 3 Photos