Skip to Content

Students spend with extra care this Christmas

Cash-strapped students buy smarter in today’s economy.

Christmastime has arrived, and that means happiness, cheer and the bustle of frantic holiday shopping. Biola students, in spite of the difficult economy and high unemployment rate, plan to brave the holiday crowds and purchase gifts for their loved ones.

The weeks leading up to Dec. 25 are some of the most productive for the consumer world. But last year proved that the poor economy can have a drastic effect on people’s spending for the Christmas holiday, and this year may not be different. An October New York Times article said the retail industry saw a decline in sales of about 2 percent last Christmas season, the weakest performance since the Commerce Department began tracking holiday sales figures in the late 1960s.

The difficult economy has affected, among other things, Biola students’ Christmas shopping lists. Some students plan to limit their spending as they shop for Christmas gifts for close relatives and friends.

Kolby Atchison, freshman, is just one of the many who plan to shop for their loved ones — but with a limit.

“I’m buying for a few friends, and family definitely,” Atchison said. “I’ll be spending $20 to $25 per person.”

Many shoppers plan to spend more this year than last, giving hope to retailers, according to a Nov. 16 Gallup poll. Though the hope is that things will be better in the world of retail this holiday season, predictions say that it will be about the same as last. According to the New York Times article, this is actually a relief to retailers, because it means that worsening conditions of the economy have leveled.

James Russo, vice president for global consumer insights at the Nielsen Company, told the New York Times that the plateauing of the horrible sales of last year is a good sign.

Jennie Brunson, a sophomore, finds the prices of gifts a bit high for a college student to pay.

“I’m already starting to look for gifts to buy, and everything is so expensive,” Brunson said. “I’m probably going to have to be a little more creative and search a little more…. I work at Target, so my employee discount helps.”

“I hope to buy gifts for my family, but it probably won’t happen,” said freshman Veronica Robles.

Some students planned to keep their purchases inexpensive by shopping at retailers like Walmart and Target.

0 0 votes
Article Rating
More to Discover
0
Would love your thoughts, please comment.x
()
x