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Forecasts for FANTASTICly dismal U.S. holiday sales - Forecasts for FANTASTICly dismal U.S. holiday sales
Tue, November 25 2008 | 4:22PM | PermaLink Feedback?
"Americans expect to limit credit-card purchases, seek out bargains and stretch spending as recession fears put a damper on their holiday cheer. With the United States grappling with its worst financial crisis since the Great Depression, retail experts predict this year will be one of the worst holiday shopping seasons in possibly two decades. If the gloomiest predictions come true, that could spell disaster for many more store chains and their employees, and provide insight on how long it may take the economy to recover. Almost six in 10 consumers said they would reduce spending this holiday season, and nearly seven in 10 said they would wait for store sales, cut back on shopping trips to save gasoline and use more store coupons."
FULL STORY @ Archived from REUTERS
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