I just read that retail sales are continuing to slump in this uncertain economy, which is bad news all around. Analysts say that consumer spending and customer traffic are down 8 and 10 percent, respectively, from this time last year, showing that economic recovery might still be a long way off.
Traditionally, low back-to-school shopping totals for retailers portend similar downward turns in upcoming holiday shopping, which is certainly not what anyone wants to hear. But it’s obvious that consumers are still worried about keeping their jobs and being able to pay off their mortgages and cheap health insurance instead of spending on pricey items like new laptops and name-brand clothing.
And who can blame them? Many of us are in the same boat here. I know I’m spending a lot less, and whatever I do buy tends to be on the cheaper side now. I’m always looking for bargains and the best deals, and if I can’t find a good price, I just simply go without instead of spending money I don’t have.