I should probably do a Google Alert on Black Friday news items, but alas and again, I am lazy. And why I am up at this hour, I do not know. Anyway, here is an article by Ethan C. Nobles of FirstArkansasnews.net on how consumers are going to get through the holiday season. He cites a recent FICO survey on how people will shop this year:
* 40 percent say their biggest worry heading into 2011 is credit card debt.
* About half expect to charge an extra $100-$500 this season – and many will take up to six months to pay it off.
* Three-quarters of people are changing their holiday traditions because of the economy.
* Only 15 percent will pay cash for holiday shopping.
* Most have not made advance preparations for holiday bills.
Nobles considers these findings concerning, but I found the fact that "Three-quarters of people are changing their holiday traditions because of the economy" to be rather encouraging.
I'll be in and out throughout most of this Thanksgiving week - have to update on the kombucha! So much has happened! Please send me Black Friday stories, either first-hand accounts or news items from your neck of the woods - tmgnordlie@gmail.com.
I'll update if I can locate the link to the whole FICO survey.
2 comments:
Just to be clear, I don't find those traditions concerning or anything else -- that was a news release sent over by CCOA that we posted. Editorially, we're trying to be neutral (unless, of ocurse, we're not).
I'm looking for the FICO survey and will post it over at my site should I find it.
Have a good Thanksgiving, and don't be a stranger over at First Arkansas News.
My bad, didn't mean to imply that, Ethan. I appreciate you responding so quickly - I can poke around on CCOA. You are the first one to report on these trends for this year's holiday shopping season, and I wanted to corroborate the info. Thanks again for your input!
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