Upper income shoppers produce strong Christmas sales

[pphilfran]

I am surprised at some of the data they present....sales didn't really do much until the last week...waiting for bargains I guess, even more so than in the past...

http://www.gallup.com/poll/145406/Upper-Income-Shoppers-Lead-Strong-Christmas-Week-Spending.aspx?utm_source=alert&utm_medium=email&utm_campaign=syndication&utm_content=morelink&utm_term=Business+-+Consumers+-+Economy

PRINCETON, NJ -- An upper-income spending splurge led the way to strong self-reported spending during Christmas week 2010. Upper-income Americans' self-reported consumer spending in stores, restaurants, gas stations, and online averaged $183 per day during the week ending Dec. 26 -- up from $126 during the same week in 2009.

Americans' overall self-reported spending surged to an average of $85 per day during the week ending Dec. 26 -- up from $77 during the prior week and $66 during the first two weeks of December. As a result, spending during Christmas week 2010 exceeded that of 2009 and 2008.

[2121Sooner]

I am sure I helped up the average....

http://www.businessweek.com/autos/autobeat/archives/LEXUS-LS-460bow.jpg

[Veritas]

Wonder what "upper income" means?

[NormanPride]

People with two nickels to rub together.

[badger]

Wonder what "upper income" means?

People that can spend $183 per day on gifts/food/etc. for a week I guess????

[Veritas]

People that can spend $183 per day on gifts/food/etc. for a week I guess????
But spending isn't necessarily indicative of income. In fact, my experience is that it's almost inversely proportional.

[2121Sooner]

But spending isn't necessarily indicative of income. In fact, my experience is that it's almost inversely proportional.


Is that because you spent over $183 for the week and are poor?

[Veritas]

Is that because you spent over $183 for the week and are poor?
Nah, it's because I so much spending that I see is credit and not cash based.

[The]

Nah, it's because I so much spending that I see is credit and not cash based.

You accidentally the whole post.

[2121Sooner]

Nah, it's because I so much spending that I see is credit and not cash based.


maybe it is a debit card, and not actually a credit card.

[The]

maybe it is a debit card, and not actually a credit card.

Get a brain, hippie.

[The]

maybe it is a debit card, and not actually a credit card.

But yes, what Veritas is talking about is most certainly a debit/bank card.

And I still see more people using Traveler's Cheques than not.

[2121Sooner]

I bought my hemp necklace on credit......

http://images4.cpcache.com/product/270120164v5_480x480_Front.jpg

[2121Sooner]

But yes, what Veritas is talking about is most certainly a debit/bank card.

And I still see more people using Traveler's Cheques than not.


I see more bartering than anything really.

[The]

I see more bartering than anything really.

Parsnips were big this year.

[Ike]

Nah, it's because I so much spending that I see is credit and not cash based.

These days, in many places, you are getting screwed if you use cash rather than a credit card. Why you may ask? Because to pay the fees associated with credit card usage, stores have to raise the prices of items in their store. People using their credit cards will get compensated back for part of that raise in prices through whatever rewards program their cards have*. People paying cash, or with debit, check or by other means won't.




*of course, this also pre-supposes that the credit card users pay off their balance every month. Otherwise, the rewards they get often don't come close to the interest they get charged.

[OUthunder]

Lol, what is considered to be upper level income these days?