I’m sure most of you are inundated with “Black November,” “70% off” and “clearance” email promotions from the usual cast of brick/mortar/online chain retailers. It started with my inbox in October. This is because retailers are terrified of what could be one of the worst holiday spending seasons in years.
The mainstream financial media, planted with sound-bytes from Wall Street snake-oil salesmen, have already created this year’s “the dog ate my homework” excuse for poor holiday spending with the absurd notion that the period between Thanksgiving and Christmas is shorter this year. Quite frankly, I would not be surprise if many households used Amazon’s Prime day and easy Amazon credit lines offered to buy holiday gifts early this year.
Speaking of AMZN, it warned that its expected holiday sales would be lower than previous guidance. And Home Depot lowered its Q4 revenue estimates for the second time in three months.