News / Economy

Around the World, 2012 Holiday Shopping is Subdued

Around the World, 2012 Holiday Shopping Is Subduedi
X
December 25, 2012 12:50 AM
Holiday shoppers were out in force hoping to get last minute bargains for Christmas but early indications suggest they didn't spend as much as in previous years. Despite a slew of deep discounts - some retailers say 2012 has not been a great year. Around the world, shoppers appeared subdued - not sure about what their economies might bring them in the New Year. VOA's Mil Arcega has more.
Around the World, 2012 Holiday Shopping Is Subdued
Holiday shoppers were out in force hoping to get last minute bargains for Christmas but early indications suggest they didn't spend as much as in previous years.  Despite a slew of deep discounts - some retailers say 2012 has not been a great year.  Around the world, shoppers appeared subdued - not sure about what their economies might bring them in the New Year.  

At U.S. shopping centers, parking lots were full - as thousands of last minute shoppers descended into crowded malls.

But the big crowds mask larger concerns. Consumer confidence has fallen to a 6-month low, and retailers say shoppers don't seem to be spending as much.

Dana Mattioli covers retail trends at the Wall Street Journal. "All the retailers are in panic mode.  It hasn't been a great holiday season," she said.

But if flagging consumer confidence worries retailers, shoppers say they have other things on their minds.

In Greece, despite the festive decorations - the issue is not confidence but economic reality. After six years of recession, Greeks expect even tougher austerity measures in the New Year.  So while shoppers in Athens look at the brightly decorated shop windows, few carry shopping bags.

One Greek pensioner says, after rent and food, there's just no money left. "Nothing, the economic hardships are so great that we cannot afford to buy anything," said George Manikas.

In Spain, where unemployment is 26 percent, shop owners are dropping food prices to tempt consumers.  But Emilio Perez, a butcher, says customers have less money to spend.

"We are selling between 20 percent and 30 percent less than last year.  The purchasing power people had has been taken away from them, and we can all feel that very clearly," he said.

But in Ghana, where money is tight and inflation is 9.3 percent, some shoppers were more philosophical. "There is no money in the system as per se, yes but we wouldn't think too much about that, money or no money. Since we have life, we have to do something for our children and loved ones," said shopper Vida Afforo.

But American retailers who enjoyed a brisk start to the holiday shopping season last month - are not ready to give up.

Retail analyst Bill Martin says there's still one week of holiday shopping before the year ends. "Retailers are hoping that the consumers will come back and deliver those same strong results during this last weekend of the year," he said.

Worldwide, the bigger concern is whether American lawmakers are willing to drive the U.S. economy back into a recession. Despite the threat of economic shock from higher taxes and automatic spending cuts, neither political party appears willing to bend on a year end deadline for a budget deal.

 

You May Like

Egypt's Suez Canal Dreams Tempered by Continued Unrest

Seen as a potential driver of recovery, Cairo’s plan to expand waterway had been raising hopes to give country much needed economic boost More

Ebola Maternity Ward in Sierra Leone First of its Kind

Country already had one of world's highest maternal mortality rates before Ebola arrived, virus has added even more complications to health care More

Malaysia Flight 370 Disappearance Ruled Accident

Aircraft disappeared on March 8, 2014; with ruling, families of 239 passengers and crew can now seek compensation from airline More

This forum has been closed.
Comment Sorting
Comments
     
by: Don Ake
December 26, 2012 7:32 AM
I did my part to increase the numbers! - http://akespains.blogspot.com/2012/12/shopping-in-winter-wonderland.html


by: Dave Leong from: New York City
December 25, 2012 12:11 PM
One doesn't have to be a genius Merchant nor Miracle Worker to know why the Christmas Retail Season continues to be lackluster.
Even with more stuff to buy, store aisles crammed, Deptment Store "consolidations," and endless promotions, Holiday shopping will continue to nose dive. There are 3 reasons why it fails; And they have absolutely nothing to do with National or World Economies.


by: Joe from: USA
December 25, 2012 11:50 AM
You know what since I can remember keeping track (since the early 90's or so) the news media says basically the same thing every year in one form or another. humbug humbug they did not spend enough money woe is us....Its getting old and has along time ago become hard to take seriously. I guess if you look for bad results you can always find them. And unfortantely that is all modern news outlets care about is negative news since its the easy way to attract attention and garner readers.


by: Joe Oberman from: Providence
December 24, 2012 9:36 PM
Is money and profits all the news media care about? How much consumers spent for Christmas is soooo important, how about the reasons why... corporate employee lay offs, unemployed people who no longer are collecting and stopped looking for work. And, why do good people not hire any of those unemployed people seeking any kind of work, maybe because those good people (employers) are bias towards over qualified people. This is what our country has come to... apathy towards the unemployed.

Somethings terrible wrong when good people refuse to hire over qualified unemployed people. It use to be the news media would say over qualified people don't want those menial jobs. Are you kidding me?! Fact is... those good people (employers) are very afraid they might loose their jobs to someone over qualified. There's something terribly wrong when the most important thing is how much consumers are spending.


by: john nico from: world
December 24, 2012 9:28 PM
this is Good news.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Groundbreaking Hand-Painted Documentary About Van Gogh in Productioni
X
George Putic
January 29, 2015 9:43 PM
The troubled life of the famous 19th century Dutch painter Vincent van Gogh has been told through many books and films, but never in the way a group of filmmakers now intends to do. "Loving Vincent " will be the first ever feature-length film made of animated hand-painted images, done in the style of the late artist. VOA’s George Putic reports.
Video

Video Groundbreaking Hand-Painted Documentary About Van Gogh in Production

The troubled life of the famous 19th century Dutch painter Vincent van Gogh has been told through many books and films, but never in the way a group of filmmakers now intends to do. "Loving Vincent " will be the first ever feature-length film made of animated hand-painted images, done in the style of the late artist. VOA’s George Putic reports.
Video

Video Rock-Consuming Organisms Alter Views of Life Processes

Scientists thought they knew much about how life works, until a discovery more than two decades ago challenged conventional beliefs. Scientists found that there are organisms that breathe rocks. And it is only recently that the scientific community is accepting that there are organisms that could get energy out of rocks. Correspondent Elizabeth Lee reports.
Video

Video Paris Attacks Highlight Global Weapons Black Market

As law enforcement officials piece together how the Paris and Belgian terror cells carried out their recent attacks, questions are being asked about how they obtained military grade assault weapons - which are illegal in the European Union. As VOA's Jeff Swicord reports, experts say there is a very active worldwide black market for these weapons, and criminals and terrorists are buying.
Video

Video Activists Accuse China of Targeting Religious Freedom

The U.S.-based Chinese religious rights group ChinaAid says 2014 was the worst year for religious freedom in China since the end of the Cultural Revolution. As Ye Fan reports, activists say Beijing has been tightening religious controls ever since Chinese leader Xi Jinping came to office. Hu Wei narrates.
Video

Video Super Bowl Ads Compete for Eyes on TV, Web

Super Bowl Sunday (Feb. 1) is about more than just the NFL's American football championship and big parties to watch the game. Viewers also tune in for the world famous commercials that send Facebook and Twitter abuzz. Daniela Schrier reports on the social media rewards for America’s priciest advertising.
Video

Video Theologians Cast Doubt on Morality of Drone Strikes

In 2006, stirred by photos of U.S. soldiers mistreating Iraqi prisoners, a group of American faith leaders and academics launched the National Religious Campaign Against Torture. It played an important role in getting Congress to investigate, and the president to ban, torture. VOA's Jerome Socolovsky reports.
Video

Video Freedom on Decline Worldwide, Report Says

The state of global freedom declined for the ninth consecutive year in 2014, according to global watchdog Freedom House's annual report released Wednesday. VOA's William Gallo has more.
Video

Video MRI Seems to Help Diagnose Prostate Cancer, Preliminary Study Shows

Just as with mammography used to detect breast cancer, there's a lot of controversy about tests used to diagnose prostate cancer. Fortunately, a new study shows doctors may now have a more reliable way to diagnose prostate cancer for high risk patients. More from VOA's Carol Pearson.
Video

Video Smartphones About to Make Leap, Carry Basic Senses

Long-distance communication contains mostly sounds and pictures - for now. But scientists in Britain say they are close to creating additions for our smartphones that will make it possible to send taste, smell and even a basic touch. VOA’s George Putic reports.
Video

Video Former Sudan 'Lost Boy' Becomes Chess Master in NYC

In the mid-1980’s, thousands of Sudanese boys escaped the country's civil war by walking for weeks, then months and finally for more than a year, up to 1,500 kilometers across three countries. The so-called Lost Boys of the Sudan had little time for games. But one of them later mastered the game of chess, and now teaches it to children in the New York area. VOA’s Bernard Shusman in New York has his story.
Video

Video NASA Monitors Earth’s Vital Signs From Space

The U.S. space agency, NASA, is wrapping up its busiest 12-month period in more than a decade, with three missions launched in 2014 and two this month, one in early January and the fifth scheduled for January 29. As VOA’s Rosanne Skirble reports, the instruments being lifted into orbit are focused on Earth’s vital life support systems and how they are responding to a warmer planet.
Video

Video Crowded Republican Presidential Field Off to Early Start for 2016

It seems early, but the 2016 U.S. presidential election campaign is already heating up. Though no one has officially announced a candidacy, several potential Republican contenders have been busy speaking to conservative groups about making a White House run next year. Many of the possible contenders are critical of the Obama administration’s foreign policy record. VOA national correspondent Jim Malone reports.

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

All About America

AppleAndroid

World Currencies

EUR
USD
0.8837
JPY
USD
117.92
GBP
USD
0.6608
CAD
USD
1.2531
INR
USD
61.900

Rates may not be current.