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I actually saves them money and gas now are you gonna blow up at the -- your emails and shopping -- want to get to the question today while lines was what you -- shopping around.
Going to be what's America saying well we have that saying -- stimulus check went to -- my freezer and pantry for Christmas my nine kids are getting large food baskets and homey.
That is says I'm going to dedicate my favorite charities or organizations the names of my extended family.
I'll come out ahead financially and then it won't have to eat a big box of chocolates that they don't want.
I am in California says we are postponing her Christmas holidays -- January the of the best shopping FiOS and no holiday rest after all it's that family isn't it.
And Kathy says fewer gifts using store coupons not sending Christmas cards and giving -- -- others in need to hear Molly thanks very much -- of good strategy you know -- -- have Christmas on December 27 to get the sales in the 26 save yourself.
A fair bit of money market.
Doesn't come on Christmas is not going to Glover all that -- I have my husband is another -- activity you know what Hitler coming up with some very creative ideas and they are rethinking things so let's talk a little bit about.
How the economy can keep terrified.
Consumers' spending because that it's happened to in order to keep the economy and tax -- a new study for the consumer federation of America.
And the credit union association says.
Yes in fact according is said he 55% of Americans say that there is less this year and kind of -- not even more than 55% of Americans but they say they're going to forecast.
I presented a -- out more they hear that the first time in nine years that people have said that they would spend.
Less money than they did the previous year usually end of the year everybody says.
That a little bit more the here not so right -- analysts as a consumer and by the -- out.
Just -- classes say senior managing director ICR.
And he got.
-- -- If money per blocker but soccer he Deborah proctor is a retail fashion analysts and a former staff writer for sports I think.
Would you you know what do you what do you see in these companies because of what are the things that I heard from budget my friends is that they were seeing this you know that -- Iraq.
Saying all these companies are going out of business do not buy gift cards from all of these companies or -- this email which I'm sure a lot of these there.
Shouldn't be concerned about these companies and not I -- cards on them you know I get the same email and I have the same concerns as well and yeah I think we should -- little wary you know right now -- and states a lot of companies are gonna start closing down her shirt and we saw a lot of stores expand really quickly so now they're gonna contract.
-- bit with that said I don't think that if you go out and buy a gift card from the gap -- go out my sweater from the gap.
It's not an honor that purchase I just think that we need to be a little bit more wary.
Consumers need to be as a go up there in -- and I think -- I know I mean I was out a little bit on Saturday and you walk by these tables and flattered you're just thinking.
Come second you know we pretend it isn't they're going to be cheaper right.
Maybe I mean there -- some.
You know first of all the customers paralyzed the consumers paralyzed not spending -- him any money for the past six weeks but this past weekend.
You gotta -- you have Barney unit you know Bergdorf whatever it was a madhouse.
And actually buying a highly how to get a sense finally buying.
-- had a great weekend you know to controversy on Wall Street what's gonna happen obviously to these retailers for the next four weeks because the past six weeks have been.
Really bad unprecedented.
Downturn in consumer spending I think the positive is people aren't buying for themselves right now to be really needs more stuff well off enough stuff.
Some people are really noisy nothing emails Regina -- -- -- I says -- in I just feel such a tremendous change -- sentiment.
From people people say you know I don't really need best I don't mean that we're just -- -- if people are gonna via their kids up presents for Christmas but I think it's.
I'm just curious what you think the impact will be on the bottom line for some of these stores and -- as he mentioned maybe just have too many storms out there right now.
Yeah I think young kids.
Will be the notable exception because they got from the North Pole have to show.
Other anatomy saw this in the emails.
This sentiment is -- local right I don't want my local bookshop of that -- that for effort to go out of business if you type in your zip code plus shopping you can find a lot of local retailers.
Also charities feel like they're gonna get the bottom of the list and we saw that reflect in the email I want to give back.
So is shop with your local charity or your favorite charity St.
Jude have a holiday shopping catalog that way you give a gift.
And you get back at the same times throughout trying to get more bang for our box -- -- seek creative things along those lines and of course the trend towards practical gifts I daresay it's the first time.
You -- kicked out of the house side to give something super practical.
That's the name of the game yet -- her.
Where vacuum cleaners on -- yeah.
-- is hitting every ill gotten some of these stories that we have and Taylor which has had doesn't have -- it and getting on out of business is restoration hardware going out of business what do you.
And that's the rumors that I hear in I think there's some tough times out -- -- antenna and restoration hardware you know stories like cash -- and you know there a couple of others around pilot circuit city of cores you know a lot of the Talbots stores are gonna be.
Closing shop a lot of the start.
Somebody's stores weren't doing a good job anywhere managing their inventory well they had to like stop they had certainly salespeople.
I mean I read it is all of this can end up with a situation joke.
Where we have you know fewer stores better sales and maybe there is access in this market all across supported and what about the -- -- -- -- yes I mean European for the past three years everything's been access incomes in excess spending snack less access apples and access that means.
Retails and access to many stores too much merchandise etc.
so we're just fall to -- normalized level.
I don't that -- and of the -- -- like.
Is part of the conference in Wall Street right now but you are definitely already getting.
Retailers closing stores next you're planning to close stores next year -- fewer stores and yes you'll -- back as we recommended it be Fed cut the basic gift card well if you want to play it safe I don't name names on who's dangerous could and I want to -- a retailer rather down because that just you know creates more damage but you -- it.
If cards that come by visa gift -- obviously and you can.
You know the gift can be spent anywhere but.
-- you online what do you recommend for people who are looking for big deals who don't want to go to the store they want to shop how can send as many.
Yes scans up online it looks like the president not really cut the wedding -- if they're spread out -- in the store.
Right will price -- that -- the shopping comparison chart Cendant apple if you look pretty good indication right now.
That make or break deals the single most effective online permission is free shipping its widely available look at that based on standard shipping rates later in the game I've gotta pay the fedex's and UPS's the world a premium.
Less likely to eat -- on going to pass that on to you but I think overall the recount and -- so many indications.
JC -- saying they're seeing people shop.
Around paid days and they're not Wal-Mart which regularly sees fat wallet pop dot com's and they're gonna post bloggers at malls on Black Friday kind of like.
The political climate posted bloggers.
Not at the conventions I -- the same sort of real time information and that's the Internet really change things I think I'd be walking a rally here Internet data there Blackberry getting deals have I what would you say I'm Matthew twenty of the -- yeah.
What's your number one tip for how long people should wait.
Before they shot -- when they're gonna get the best deals on stuff that's on their lesson and other going to buy.
-- -- I say if it's on your list get it when you get it because you can't outsmart the retailers they're managing inventory really closely know it's a good -- if you comparison shop that should be -- -- okay he thought I say that you can't outsmart the retailer that -- -- -- wait as long as possible on December 21 and then get desperate to quietly they want to get and the -- out of there down.
Just -- they're already desperate in the sales are already there they'll be there Friday one last tip luxury spending.
Paying up for status paying -- -- -- price -- is so over time so out just not coming back so by something affordable by something value you laugh legality or fashion avenue and if they could not -- -- -- friend is over for awhile and don't feel bad about you know buying something important -- for.
Thank you very much thanks Pete that they -- that thanks again to see is eyes.
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