Holiday shoppers are just not in the holiday spirit this year. It was reported on Dec. 25 that shoppers spent less than back in 2011. This has been the worst shopping season since 2008, when the economy was in a deep recession.
According to The Huffington Post, shoppers had their mind on the economy, the burdening storms and the recent shootings. The news site also reported that consumer confidence has dipped to its lowest since July.
Even though the malls were packed this year, consumers were still spending less. Marshal Cohen, chief research analyst for NPD Inc., noticed the startling trend. He was in line with some of the shoppers during the busy holiday season. Cohen noticed the spirits of the shoppers around him, "There was this absence of joy for the holiday," Cohen said, "There was no Christmas spirit. There have been just too many distractions."
Consumers are still on edge with the ongoing news of the "fiscal cliff." Once the White House and Congress reach a decision, tax increases and spending cuts could start happening on Jan. 1, 2013. The fiscal cliff could hurt a lot of middle-class families.
Retailers are hoping that the last week leading up to Christmas will make up for the lost money. Black Friday was the biggest shopping day of the season, but it fell short. The Saturday before Christmas and Christmas Eve also count as big shopping days. Hopefully, these big days will help the economy.