I have been trying to get into the Christmas spirit for weeks now but just haven’t been feeling that special something—that little flutter in my stomach that’s excited to spend money on those I love. This year it feels like it’s all the usual suspects and there’s nothing new to give—sweaters, DVDs, candy, same old thing. Last year, it was Nintendo Wii this and iPhone that. This year… crickets (although, I hear a weird little hamster is getting his or her 15 minutes of fame).
I thought I was alone in my hum-drum outlook on this season of spending, but it turns out I’m not. According to a new Ad Age article I’m actually pretty intuitive. The economy is wreaking havoc on Christmas. The recession has caused people to be more judicious on discretionary spending, but they are willing to spend—especially on the cool new “it items.”
The problem is this year there aren’t any “it items.” The recession has kicked everyone into survival mode—not only consumers, but manufacturers and retailers. Manufactures are inclined to refrain from producing new “innovative” items, and retailers won’t by them. Everyone is sticking with the “safe” products that sold great last season.
This Christmas innovation is DOA and us consumers are left uninspired to spend. Right or wrong, no one is taking risks. The Catch 22 here is the economy won’t get stronger without it.
Zmuda, Natalie. “Where Are the Must-Have Items This Holiday?” AdAge.com, December 10, 2009.
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