business news in context, analysis with attitude

Bloomberg reports that a new survey by Deloitte suggests that 41 percent of US consumers plan to spend less during the end-of-year holiday season because of concerns about higher food and energy costs, as well as falling real estate values. About 52 percent of shoppers surveyed they will spend “the same” this year, and just seven percent said they will spend more during the upcoming holidays.

One other concern cited by shoppers cutting back on holiday expenses – uneasiness about the safety of imported goods, which includes both toys and food products.

KC's View:
History suggests that if this is true, on or about December 10 there are going to be enormous values available as a lot of retailers slash prices to drive sales. These sales are going to be even greater because of the desperation that’s already being shown by some retailers that started promoting the holidays back before the leaves started to change.