Americans Are Spending

...less than the mainstream "experts" anticipated this holiday season (see here and here; as predicted here and here). Indeed, it looks like the "new black" as far as shopping venues go is the old (and really cheap) stuff:

Consignment stores

"Spenders Get Thrifty for Holiday Shopping"  (Fairport-E.Rochester Post)

As departments stores become flooded with shoppers this holiday season, some are choosing to shop at consignment stores to give themselves a hand — a second hand, that is.

For the bargain hunters

These days, it’s easy to find bargains online, but this isn’t always a good strategy when it comes to clothes.

“People try shopping on Craigslist but it’s kind of awkward with clothing because you need to try it on,” said Amy Jo White, owner of the newly-opened consignment shop Friend To Friend Trendz in Fairport.

Whether it’s finding someone’s unwanted designer jeans on a rack for less than half the retail price or a pair of shoes that’s been broken in by another owner, the benefits of hand-me-downs go beyond stretching the dollar.

“If you’re going to shop consignment, I’d never tell people to go to one place,” said White. “If you’re looking for treasures, look at them all,” she said with a laugh.

Thrift stores

"Play It Again: Christmas Thrifty Gifts" (KMPH)

The countdown to Christmas officially starts on Black Friday. And if you haven't been counting down, that's just a week from Friday. Surprisingly, we met a Reedley woman who's been Christmas shopping for months.

Brandi Lanier calls it a "thrift store Christmas." The mother of five scours two Reedley thrift stores weekly. She's in search of those perfect gifts and at the same time giving back to her community.

Brandi let us tag along as she walked through the Nearly New Thrift Store in Reedley. "Times are tough and so for that reason to save money and just to make Christmas fun. So it's not just about the gifts. So my kids can understand the true meaning of Christmas," she said.

The Nearly New Thrift Store has been in business for nearly 50 years. It's donated more than a million dollars to Mennonite charities. Carol Peters manages the store. "They love our store because they feel like it's not a thrift store. They feel like it's decorated so nicely. It's more like a regular store but thrift store prices," Peters said.

Pawn shops

"Is The Pawn Shop The New Spot For Holiday Shopping?" (CBS Detroit)

Doing your holiday shopping at the pawn shop?  WWJ’s Sandra McNeill reports that’s not so odd anymore.

Tom Blaine owns the Garden City Exchange and says his business though October is already up 49 percent over December of last year.  The bad economy means he’s getting people selling new and high-end electronics like iPads and he says the popularity of reality shows mean people aren’t as embarrassed to shop there.
Is The Pawn Shop The New Spot For Holiday Shopping?

“Sometimes I’m sure they are.  They might want to try and make it look as new as possible,” said Blaine. “But, you know, times are tough. People don’t mind as much.  They’re looking for a deal more than anything.”

Shopper Jason Miller has no problem buying gifts there.

“Yeah, it’s a good place to shop. You know, you get a good deal on everything,” he said.

Dollar stores

"Growth of Dollar Stores Fueled by Frugal Shoppers from All Walks of Life" (San Jose Mercury News)

Dollar stores have become an unlikely destination for holiday shoppers of all income levels as the recession squeezes budgets.

Shoppers like Rebecca McGee, who was browsing the 99 Cents Only store in Berkeley looking for holiday decorations and gift wrapping supplies. McGee, 25, figures if she bought the same pack of gift tags at a Hallmark store, she would have paid $5.

She started shopping at dollar stores a couple years ago after a stint of unemployment made her more aware of her finances. "Now, I'm just budgeting myself a whole lot more," said the educator and Berkeley resident.

Dollar stores are expected to be among the star retail performers this holiday season, according to a Nielsen survey.

"There is no stigma from going to a dollar store," said James Russo, Nielsen's vice president for global consumer insights. "It's frugality. It's practicality. It's convenience."

Dollar stores "have been doing better during the last three years and continue to do better throughout the year and during the holidays," said Howard Davidowitz, chairman of Davidowitz & Associates, a New York-based retail consultant. "These places are eating Wal-Mart's lunch. ... It's one of the fastest-growing sectors of retail."

Comments

[roger]

LOL...the human mind is not as free as people believe.
Unbeknownst to real smart advertisers/retailers and
shoppers alike, a new shopping culture is in the making.
The retailers are planting the seeds of their own demise.
Considering the honesty in the money world,I'd call that
poetic justice.

[Most Americans are screwed]

Greg Hunter

the top of the echelon was saved..the average guy is an after thought

http://www.itulip.com/forums/showthread.php/21181-Greg-Hunter

[Americans are lost]

"Perhaps Americans can revel in their unique freedom of action when they step to the voting booths next fall, and vote for one of the two choices offered to them by their corporate oligarchs, while their elected representatives continue to ignore massive bank frauds and the gaming of the system by the monied interests, now colloquially called the 'one percent.'

And don't step out of line or speak up because you may be pepper sprayed at will."

http://jessescrossroadscafe.blogspot.com/2011/12/european-union-is-no-different-than.html

[roger]

Is Christmas Bad for the Economy?
The AtlanticBy contributors@theatlantic.com (Derek Thompson) | The Atlantic – Wed, Dec 7, 2011 2:28 PM EST.

It's all about the sordid behavior of the herd mentality.

[Is parasite equity bad for your wealth?]

Private equity trapped in ‘zombie funds’

About half of all institutional private equity investors have a stake
in a “zombie fund” where unsuccessful managers with no hope of getting
a bonus are holding on to the investments as long as possible to live
off the management fee, a global survey shows.

The findings are yet another strong sign of difficult times for
private equity as many groups struggle to cope with the fallout from
the credit-fuelled takeover binge in the run-up to the financial
crisis.

http://www.samachar.com/Private-equity-trapped-in-zombie-funds-lmlsMbdjgjf.html

[Where's everything made in a dollar store?]

Cambodia: prison labor concerns

A new law legalizes the use of prison labor by private companies, putting Cambodia's "sweatshop-free" reputation on the line.

http://www.globalpost.com/dispatch/news/regions/asia-pacific/111206/cambodia-prison-labor-garments-exports-ILO

[Finance]

What willl Americans do when money runs out? Forget a debt? Wait for statute of limitations to run?