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Holiday wishes from online retailers

06 Dec 2009 - Preaching the News for Sunday

Merchants beleaguered by a long year of recession are hoping the holiday season will, in the words of the psalmist, "restore again our fortunes." While sales the day after Thanksgiving were up only slightly from a year ago, over half of U.S. consumers also shop online and businesses were hoping after the long weekend that "cyber Monday" would be stronger. Early indications suggest that electronics sellers have done well but clothing and luxury merchants are struggling. Those results, combined with a trimmed sales prediction for retailers' official November results, raised worries that some sectors could face tough going as they grapple with frugal Americans contending with job insecurity and tight credit. The International Council of Shopping Centers trimmed its November sales growth forecast on Tuesday, citing more shoppers who said they are putting off holiday buying compared with a year ago. "Last year, it was uncertainty that was driving the cautiousness," said Mary Delk, director of Deloitte Consulting. This year it's "anxiety about their [own] personal finances" that's making shoppers more frugal. Steep discounts drove purchasers to stores and online this past weekend but Delk thinks it's likely they won't come back until the season's final hours when the bargains are even better. Sources: Articles by Mark W. Smith for the Detroit Free Press, Janet Morrisey for TIME, and Anne D'Innocenzio and Jeannine Aversa for the Associated Press

holidays recession shopping black friday cyber monday international council of shopping centers mary delk retailers

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Word of the Week

17 November 2024

Presider’s Chair

\'pri-sīd-ərs 'cher\

Also known as the presidential chair, the seat in a parish church from which the celebrant leads the assembly during Mass. Its meaning derives from the chair, or cathedra in Latin, from which the diocesan bishop presides (from Latin meaning “to protect” or literally “to sit before”). The chair is a liturgical symbol of authority and pastoral leadership.

Pronunciation Read more

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