Skip to comments.It's looking like a Meh Christmas for Pocono shoppers ( and Howard Howard Davidowitz )
Posted on 12/22/2012 12:49:47 PM PST by george76
Tight budgets, bargain hunting change consumer habits...
It's Christmas 2012, and economic conditions have ushered in big changes in shopping habits. The problem, one retail expert said, is consumers' recent loss of income, personal wealth and jobs.
"Eighty percent of Americans have lost 40 percent of their net worth since Obama has been president," said Howard Davidowitz, chairman of Davidowitz & Associates Inc., a national retail consulting and investment banking firm headquartered in New York City.
"Median family income is down 10 percent. Unemployment and underemployment is at 14 percent. And if we grow at 2 percent, we can't gain any jobs."
"The people at the low, low end are doing business because the American consumer is poorer," Davidowitz said. "And given what's going on, it's going to get worse." Target and Wal-Mart's Black Thursday/Friday sales were mixed.
"They are being undersold by the extreme value discounters. The fact is, you have no money, so you go to Family Dollar," Davidowitz said.
"If you go to stores right now you can have a picnic and bring your bowling ball," according to Davidowitz. "The aisles are empty now there's no one in the stores. No one is shopping now."
(Excerpt) Read more at poconorecord.com ...
People who do have money, as of this week, are no longer buying Christmas gifts. They’re buying guns and accessories.
I had to look that word up on wikipedia although some FReepers use it and I had pretty much inferred what it meant.
Have never heard anyone audibly pronounce it, though. Possibly because I don’t watch tv?
As a stock market fan, Howard is for me like an imaginary uncle who would take you to his favorite deli in New York on Sundays and buy you a pastrami sandwich and talk to you about the stock market. A few of those sandwich outings and you’d have a better economics education than you’d get at Wheaton.
Howard Davidowitz is known as a Christmas grinch but he is probably right.
Lots of people at the local Wal*Mart yesterday.
“Theyre buying guns and accessories.”
Had to go back to Walmart today. “Accessories” are about all that is left. Very little ammo and they pulled all semi-auto’s from the shelves.
Yes, Walmart caved in to the liberal commie gun-grabbers.
Here in NC, stores were empty up until this week. Business just picked up, Target, Kmart, and WallyWorld are all mobbed.
It won’t be a great Christmas for retailers but it won’t be the end of then world, either.
Howard Howard Davidowitz? I guess his parents really liked the name Howard.
The double was caused by typing with my thumb ? [ but blame Bush ]
Actually they put them back. They’ve sold out of them in many states since.
The mall here seemed packed over the weekend, don’t know where they were actually shopping. Gay C. Penney was pretty empty of customers; moderate crowds at Dillard’s and Macy’s; Sears seemed crowded. Wal-Mart looked like a normal Saturday crowd on Friday. Over at Tar-gay on Monday, looked like a normal turnout. Had to park about 8 cars from the door, had to wait for another customer to check out. No lines at the checkout at Tuesday Morning or SteinMart.