Link: http://www.huffingtonpost.co.uk/2011/12/10/christmas-shopping-sales-start-early_n_1140611.html
Summary:
This year British retailers have decided to start sales earlier in order to boost spending. The first store chains to offer discounts have been Marks&Spencer, French Connection and Baratts. Queues formed outside high street have proved that the early sales have been quite successful so far. For instance, Bullring shopping centre in Birmingham is expecting 220 000 shoppers just in the first day and traders in Oxford Street and Regent Street are estimating their profit to be around £150 million. Retailers have also been lucky because the bad weather is forcing people into the shops.
My reaction:
This article shows that the financial crisis has really become a global concern. Households are experiencing reduced earnings and we are all trying to cut on unnecessary expenditure. When it comes to Christmas a smaller budget means more modest presents and celebrations. The downside to this is that as we worry about our own budgets we lower consumption and with this, employment and GDP fall; so we are actually making the situation worse. Although this is really bad news, I would like to think that at least it will make people less materialistic and realize what Christmas is really about.








