Holiday Retail Troubles Feared as October Numbers Prove Discouraging – Wired PR News.com – The financial crunch that has been felt by consumers on a widespread scale has retailers worried about what’s to come for the holiday season. As reported by the Associated Press, retail businesses produced the lowest sales numbers for the month of October in more than three decades.
Consumer shopping has substantially decreased due to financial stability worries. Many consumers are expected to make holiday purchases for their children, and hold off on further spending. Consumer fears have been spawned by massive layoffs and a lack of economic control.
Some large retail stores like Wal-Mart are making preparations for holiday shopper buying hesitation by marking down prices and extending their store hours. Several retailers, such as Circuit City and Linens and Things have been forced to close down their operations recently, with others fearing forced liquidation after the upcoming make or break holiday season.
Consumer spending issues have been demonstrated by various spending groups including typical teen mall goers, and buyers of luxury items.