14 November 2008

Well, This Sucks

American Research Group has a survey on 2008 Holiday Shopping, and it has the predicting a 50% drop in sales vs 2007.

Year Average Spending Percent Change

2008 $431 - 50%
2007 $859 - 5%
2006 $907 - 4%
2005 $942 - 6%
2004 $1,004 + 3%
2003 $976 - 6%
2002 $1,037 -1%
2001 $1,052 + 9%
2000 $968 + 3%
1999 $939 + 1%
1998 $928 + 34%

Considering the fact that 70% of the US economy is consumer driven, this is mind boggling.

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