Due to the recession, increasing food prices, previous increase in gas prices, continuing company layoffs, 4.39 million unemployed, 46 million uninsured and thousands more are homeless or at risk of experiencing a financial crisis many American cut back. Today I am happy to know that someone finally woke up. Some Americans actually cut back their Christmas shopping and faced reality. Some Americans were smart this year and didn’t spend money they didn’t have on Christmas gifts.
According to SpendingPulse, the 2008 Christmas shopping season was the worst it has been in decades. The shopping season was tracked from the day after Thanksgiving until Christmas Eve. The Christmas shopping season accounts for approximately 40-50% of retailer’s annual revenue. Sales at specialty clothing stores such as Gap and Old Navy fell 19.7%. Sales at electronics stores such as Best Buy fell 26.7%. Sales at high end department stores, jewelry stores and restaurants fell 34.5%. Online sales fell 2.3%.
This is the start of a new day. If you are feeling the sting of the recession you need to make a plan for how to survive in 2009. Experts indicate that the recession will continue through 2009 and possibly into 2010 so you need to make sure that you are able to survive and reduce your chances of losing your home to foreclosure, filing bankruptcy, having repossession or some other financial crisis. Make your plan today before it’s too late.
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