Poll-- does "as much as 4 percent" constitute a "plummet"?

[Black Landlord]

Retailers' holiday sales plummet 4 percent

By Ilaina Jonas Ilaina Jonas – Fri Dec 26, 9:17 pm ET

NEW YORK (Reuters) – Retailers' sales fell as much as 4 percent during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to data released on Thursday by SpendingPulse.

The figures, from the retail data service of MasterCard Advisors, show the 2008 holiday shopping season was the weakest in decades, as U.S. consumers cut spending as they confront a yearlong recession, mounting job losses and tighter credit.

"It's probably one of the most challenging holiday seasons we've ever had in modern times," said Michael McNamara, vice president of Research and Analysis at MasterCard Advisors.

More:
http://news.yahoo.com/s/nm/20081227/bs_n...ingpulse_6

[incognegro]

hmm.... 4% overall, but much higher if you were in this group:

Sales at specialty apparel retailers like Gap Inc and Abercrombie & Fitch Co fell 19.7 percent this year, SpendingPulse said. When factoring in department store results, sales fell about 20 percent, McNamara said.

Women's apparel sales fell 22.7 percent; men's clothing sales were off 14.3 percent, and footwear sales fell 13.5 percent, SpendingPulse said.

This year, the higher the price, the more consumers did without, SpendingPulse said. Sales at specialty electronics and appliance chains such as Best Buy Co Inc fell 26.7 percent, it said.

Luxury sales, which include sales at high-end department stores, leather goods boutiques, pricier jewelry stores and restaurants, fell 34.5 percent, SpendingPulse said. Excluding jewelry, sales fell 21.2 percent.

"There's a much different bonus environment, especially in New York and the financial services industry," McNamara said, of the traditional luxury good customer base.

"But also, the deteriorating employment figures across multiple industries across the country look like they're having a more significant impact at the higher end," he said.

[cbelt3]

And the cause ?

Global Warming, of course !

[incognegro]

cbelt3 wrote:
And the cause ?

Global Warming, of course !

an ill wind that started on the Street of Walls...

[OWC Jamie]

It's a number.
Use it to attempt to instill fear and self-loathing,
or
Use it to attempt to placate the unwashed masses.

[Mac-A-Matic]

Four percent in these economic times would be a relief. The twenty percent being reported in individual sectors and companies is truly a "plummet."

For the past few months, our company has recorded about 3% growth in gross sales. Not the kind of growth we had hoped for in the past but considering our economy, we're doing okay. Luckily, we're on track to increase our overall gross sales by 15% in 2008. I'm not so sure about 2009 and will be happy if we can stay within +/- 5% of 2008 numbers.

[MacArtist]

Numbers get thrown around by the media. I heard 4% a couple of days ago. Today I heard 8%.

The biggest problem is our economy (along with China's and India's) are not geared to the US slowing down at all. It's set up for us to spend, spend, spend.

Now, things have come to a screeching halt in some areas of our economy. People are thinking long and hard about whether to spend or not and they are searching for the best price if they do spend.

Until consumer confidence is restored; it's going to be pretty rough.

Some of this is good because maybe it will cause people to saving again instead of only spending.

[Dennis S]

I heard of something "plunging" 1.5%. I think this is because the news writers are young know-nothings; not because anyone is using propaganda.

[sekker]

the experienced writers are all being laid off

[incognegro]

a neckline that's 4" lower could be called a "plunging" neckline.