Daily VideoDecember 23, 2011
Holiday Shopping Trends Reflect Income Inequality
Every year, analysts look at holiday season retail spending to gauge how well the national economy is doing and how much money people have in their pockets. This year, people have been spending money at both discount stores and high-end luxury stores, but not as much at middle-of-the-road retailers.
That doesn’t come as a surprise to many economists, who say people’s spending reflects the income inequality in the U.S.: many people near or below the poverty line, and an increasing number of super-wealthy individuals.
Dollar stores are doing very well in this economy and are catering more to what customers need, not what they want: food, basic beauty supplies and household cleaning products. Large retailers, on the other hand, are often consolidating their middle-of-the-road brands with their luxury brands to make sure they have plenty of options for high-end buyers.
Warm Up Questions
1. What are your favorite stores?
2. Why do economists focus so much on how much money people have spent over the holidays? Why is it important?
3. What do the terms ‘high-end’ and ‘low-end’ mean to you in terms of types of stores?
1. According to the video, how do shopping trends this holiday season reflect the current economic make-up of the U.S. population?
2. Where do you and your family shop for holiday gifts? Why?
3. Why do you think dollar stores are stocking more of things people need, and less of what they want?
Tooltip of related stories
Tooltip of more video block
Submit Your Student Voice
In July 2016, a young black male named Philando Castile was fatally shot by police officer Jeronimo Yanez outside of St. Paul, Minnesota during a traffic stop due to a broken tail light. Continue readingArts & CultureEconomicsHealthScienceSocial StudiesU.S.UncategorizedWorld
With the combination of a failing economy and rapidly inflating food prices, many Venezuelans are currently starving to death. One recent study found that in the past year, 75 percent of Venezuelans lost an average of 19 pounds. The proportion of children who suffer from severe malnutrition increased by four percent in just four months. Continue readingArts & CultureEconomicsHealthScienceSocial StudiesU.S.UncategorizedWorld
After weeks of drafting in secret, Senate Majority Leader Mitch McConnell (R-KY) made the Senate version of the health care bill public on Thursday morning. It shares broad strokes with the House of Representatives bill, whose approval rating is underwater. Continue readingArts & CultureEconomicsHealthScienceSocial StudiesU.S.UncategorizedWorld
After spending weeks drafting a bill to repeal and replace the Affordable Care Act behind closed doors, Republican leaders in the Senate announced that they would release it to the rest of the Congress and the public on June 22, 2017. Continue readingArts & CultureEconomicsHealthScienceSocial StudiesU.S.UncategorizedWorld
An extreme heat wave is currently affecting the western and southwestern United States. Continue readingArts & CultureEconomicsHealthScienceSocial StudiesU.S.UncategorizedWorld