Start Your Shopping Engines

By Sadie Bass

Nov 25, 2009 11:17am

So here we go… It is the start of the holiday shopping season.  Some big retailers are opening on Thanksgiving Day – no waiting till the day after anymore.  Retailers know this may likely shape up to be the season to save not spend and if that proves true that will be frightening.  So, the deals will be doled out, the store hours extended, the red carpet rolled out at the mall.  But if they mark it down, will we come?  Take a look at these numbers.  America has very quickly become a nation of savers.  Over the past year the savings rate in this country has doubled.  A year ago Americans were tucking away 2.2% of their incomes.  Now we’re it’s 4.5%.  Good for you…not so good for retailers. 

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