The numbers are starting to roll in for how retailers did during the Christmas season.... an it's not that great. No surprise, the overall economy is kinda spotty right now. Personally, aside from two very inexpensive gifts for Ms. X, I didn't buy a thing. Nada. Such is my state of affairs.
Now, before you write off the year, there is a bit of a silver lining. Those ever popular gift cards make up about 30% of overall sales, and the retailers don't count them until they are used. Betcha didn't know that. So, you have until the end of the year to use them and have it count for the holiday season. And how are the stores planning on getting you to use them now? Sales, of course.
So, if you want to help the economy, get out and use that gift card that Aunt Sophie got you !! I'm keeping an eye out for any sales at Kohl's.....
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4 comments:
Doesn't the gift card reporting on the totals sound like Enron accounting?
absolutely it does. But the worst part of the gift cards is that if you don't use them within 90 days of the issue date, they start to lose value and there are additional penatlties for using them.
Talk about a scam.
Enron accounting indeed. Me, I just ask Aunt Sophie for the cash so that I can put the money in the bank and buy gold.
Simply, we don't use gift cards.
Perhaps, but the charm of giving them is that you say, "I'm too lazy to pick out a gift, but this is where I'd get it from for you."
Paul, you must be Libertarian - passing on the opportunity to hold a piece of plastic with no real value for a metal with a 6000 yr track record !!
depending on what state you live in on the declining value of a gift card
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