Good news for retailers: Children may find actual brand-name toys – not recession-age oranges, IOUs or dollar-store coloring books – in their stockings this holiday season.
But while we’re spending, let’s make sure more adults find something wrapped under the tree, as well.
According to the National Retail Federation, 2010 holiday spending is expected to inch up to 2007 levels, or by about 2.3 percent. That translates to $477 billion, from $437 billion in 2009 and $435 billion in 2008.
That’s a lot of Mix Pups. But what about cologne, jewelry and brandy?
The NRF projection indicates that people are making money again, or maybe parents just grew weary of explaining why Santa Claus can’t deliver a Zhu Zhu Pet. After all, the guy makes them, right?
But parents do not have to make up stories when opting out of gifts for each other – the recession was reason enough. Several industry observers, including retail reporters, have noted the trend of adults sacrificing gift-giving for each other in favor of buying presents for the children in their lives.
Now with the overall spending figure expected to rise, shouldn’t this mean mothers and fathers may actually spring for that silver necklace or silk tie?
Lets hope. Sure, people are willing to do most anything for their children (or grandchildren, nieces, etc.). But not buying ourselves anything so the kids could get something is bad for jewelers, golf club makers, liquor stores and the general economy. It’s selfish, basically.
And for those of us who are less than perfect, it is also a recipe for resentment. Sorry, Santa, but this year I am choosing my husband over my niece.
