by Tyler_JC » Mon 31 Dec 2007, 16:31:46
$this->bbcode_second_pass_quote('TWilliam', '')$this->bbcode_second_pass_quote('Tyler_JC', 'A')nd the US population grows at around .8% a year so the per capita increase was 1.6%.
I'm not talking about population growth (tho' that too is a factor), I'm talking about the increase in the number of shoppers. For example, this was the first year that my wife's daughter actually had her own money to spend on gifts for others.
Also, while a recent NY Times article says that "[e]arlier this month, the government reported that personal spending surged in November", it adds "but the boost was
mostly due to higher outlays for
food and
gasoline".
Mastercard says one third of spending increases from Thanksgiving to Xmas were gasoline. I don't know about you, but most people I know still spend considerably more on food than fuel, so I think it's safe to assume that
at least another third (and I expect it's more than half actually) of that spending increase was for food and other necessities, which leaves you with
0.4% at best.
I already factored that out of my numbers.
')SpendingPulse, a report released by MasterCard, had projected spending to rise 3.5 percent to 4.0 percent over last year's holiday season. Excluding gasoline, which cost about 30 percent more than last holiday season, spending rose 2.4 percent.