Economy is bad… Or is it really bad?

According to the market trends’ report released by the research firm, ComScore, there has been $32 billion already spent on the gift shopping through online forums from November 1 to December 18.

This is hard to believe because the economy is still dwindling with a poor financial health. Despite the otherwise downhill ride of the economy, there was a big chunk of money spent just ahead of Christmas.  

According to the released report, there was a stark difference in the sales made over the same period last year, which registered a straight 15% jump from the statistics that were recorded last year, when sales hit $27.8 billion.

So far the biggest chunk of money spent in online shopping has been recorded during the past one week, which amounts to $6.3 billion. This is a new record, which is when compared  to last year’s same week’s spendings revealed that online shopping then in
U.S. attributed to almost less by a billion i.e. $5.5 billion.

The market trends observed this time each year always register a lot of spending because of Christmas closing in fast, where the last four days’ sales went beyond $1 billion mark. Meanwhile, this year’s Cyber Monday sales surpassed all previous records by
generating sales of $1.3 billion in a single day.

This shows that people do not want to dampen their Christmas by blaming it on bad economy. Hence, they are happy spending on celebrations his time around the year no matter what comes their way. Also, another conclusion can be drawn from the results which
is obvious and has been all shown loudly spelt out in this year’s findings, i.e. “The Curse of Inflation”. Comparing last year’s pricing to that of this year’s, which it is obvious that per piece this year’s pricing is a lot more than that of last year’s.

If this trend is not stopped somehow, the results for next year will be even more extreme.

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Posted by sara.anwar on Dec 22 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry