NEW YORK — Forget the returns line. People hit the stores after Christmas to buy, indulging the rediscovered retail appetite that may have made 2010's holiday shopping season the biggest ever.Read the rest here.
Revenue for the holiday season is on track to grow at its strongest rate since 2006. Total spending for November and December could exceed 2007 sales — the best season on record. This despite an uncertain economy and a rise in thrifty habits.
Shoppers spent more on their family and friends and for the first time since before the Great Recession, treated themselves and even their pets. And after Christmas, even an East Coast blizzard didn't kill the mood as they headed to stores armed with gift cards and eyeing a new crop of discounts.
I have no problem with spending... as long as people are not going into debt doing it. I will be interested in seeing how much of this was charged and how much was paid for in cash. I vaguely recall reading that the weekend following Thanksgiving was very good for retailers, but that people were mostly paying with cash and that credit card use remained low. If that trend held throughout the last month I would call that encouraging news.
P.S. The above is intended to reference the economic implications, not the cultural problem of excessive commercialization of Christmas, which remains a serious problem.