Christmas shopping not done
By Dhanya Skariachan |
December 31, 2009, Thursday
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Print Edition
Print Edition
AN unprecedented 22 percent of consumers in the United States said they did not finish their Christmas shopping this year as fewer discounts kept many wallets closed, according to a survey released on Tuesday.
While nearly 63 percent said bigger deals were needed to loosen their purse strings, about 11 percent blamed bad weather that hit the US East Coast and Midwest on the weekend before Christmas, according to Britt Beemer, founder of consumer research and marketing firm America's Research Group.
"This is the lowest number of consumers finishing shopping in all my 26 years of tracking retail sales during the holiday season," Beemer said. Many consumers decided to give cash instead of presents
In a typical year, 82 percent to 88 percent of consumers complete their holiday shopping, according to Beemer.
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