The International Mass Retail Association (IMRA) released a study saying that 2002 holiday shoppers spent an average of $1,558 per households on presents during the holiday season just past, as opposed to the $863 they expected to spend when surveyed a couple of months ago.
- KC's View:
Go figure. This stat would seem to be out of synch with some of the other economic numbers we’ve been seeing reported, especially the generally lousy holiday traffic reported by many retailers.
If these numbers are borne out by the facts, it will suggest that once again the American consumer is doing his and her best to salvage a weakening economy, almost regardless of what they do down in Washington.
Which is probably a good thing…
For more about these economic reports, see Your Views, below.