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

UN: 1 Million Somalis at Risk of Hunger

Group warns region is in dire need of humanitarian aid, with at least 200,000 children under age of five acutely malnourished as drought hits southern, central part of nation More

Human Rights Groups Allege Supression of Freedoms in Thailand

Thailand’s military, police have suppressed release of independent report assessing human rights in kingdom during first 100 days of latest coup More

Jennifer Lawrence Contacts FBI After Nude Photos Hacked

'Silver Linings Playbook' actress' photos were posted on image-sharing forum 4chan; Federal Bureau of Investigations is looking into matter 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.
Larger Than Life Chinese Lanterns Make Southern California Appearancei
X
Elizabeth Lee
September 02, 2014 8:57 PM
Chinese lanterns with a long history are lighting up in 21st century style at the Los Angeles County Fair in southern California. Visitors can see traditional lanterns that hang, but also lanterns in the shape of animals, iconic landmarks and many other objects, all created by artisans from a place in China known for its lanterns. Elizabeth Lee has the details from the fair in the city of Pomona.
Video

Video Larger Than Life Chinese Lanterns Make Southern California Appearance

Chinese lanterns with a long history are lighting up in 21st century style at the Los Angeles County Fair in southern California. Visitors can see traditional lanterns that hang, but also lanterns in the shape of animals, iconic landmarks and many other objects, all created by artisans from a place in China known for its lanterns. Elizabeth Lee has the details from the fair in the city of Pomona.
Video

Video Experts See Rise of ISIS as Significant Development

The Islamic State’s rise seems sudden. It caught the U.S. by surprise this summer when it captured large portions of northern Iraq and spread its wings in neighboring Syria. But many analysts contend that the group - which grew out of al-Qaida in Iraq - has been rebuilding for years. VOA's Jela de Franceschi takes a closer look at the rise of ISIS and its implications for the Middle East and beyond.
Video

Video Israel Concerned Over Syrian Rebels in Golan

Israeli officials are following with concern the recent fighting between Syrian rebels and government forces near the contested Golan Heights. Forty-four U.N. peacekeepers from Fiji have been seized by Syrian Islamist rebels and the clashes occasionally have spilled into Israel. VOA’s Scott Bobb reports from Jerusalem.
Video

Video Ukraine Schools Resume Classes, Donate to Government Forces

A new school year has started in Ukraine but thousands of children in the war-torn east are unable to attend because of ongoing clashes with pro-Russia rebels. In Ukraine's capital, patriotic education has become the norm along with donations to support injured security forces fighting to take back rebel-held areas. VOA's Daniel Schearf reports from Kyiv.
Video

Video US Detainees Want Negotiators for Freedom in North Korea

The three U.S. detainees held in North Korea were permitted to speak with foreign media Monday. The government of Kim Jong Un restricted the topics of the questions, and the interviews in Pyongyang were limited to five minutes. Each of the men asked Washington to send a representative to Pyongyang to secure his release. VOA’s Carolyn Presutti has our story.
Video

Video Turkmen From Amerli Describe Survival of IS Siege

Over the past few weeks, hundreds of Shi'ite Turkmen have fled the town of Amerli seeking refuge in the northern city of Kirkuk. Despite recent military gains after U.S. airstrikes that were coordinated with Iraqi and Kurdish forces, the situation remains dire for Amerli’s residents. Sebastian Meyer went to Kirkuk for VOA to speak to those who managed to escape.
Video

Video West Africa Ebola Vaccine Trials Possible by Early 2015

A U.S. health agency is speeding up clinical trials of a possible vaccine against the deadly Ebola virus that so far has killed more than 1,500 people in West Africa. If successful, the next step would be a larger trial in countries where the outbreak is occurring. VOA's Carol Pearson has more.
Video

Video Survivors Commemorate 70th Anniversary of Nazi Liquidation of Jewish Ghetto

When the German Nazi army occupied the Polish city of Lodz in 1939, it marked the beginning of a long nightmare for the Jewish community that once made up one third of the population. Roughly 200,000 people were forced into the Lodz Ghetto. Less than 7,000 survived. As VOA’s Kane Farabaugh reports, some survivors gathered at the Union League Club in Chicago on the 70th anniversary of the liquidation of the Lodz Ghetto to remember those who suffered at the hands of the Nazi regime.

AppleAndroid

World Currencies

EUR
USD
0.7537
JPY
USD
103.79
GBP
USD
0.6032
CAD
USD
1.0957
INR
USD
60.522

Rates may not be current.