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
On Sunday, the U.S. Army Corps of Engineers denied a permit for completion of the Dakota Access Pipeline, which would have come a half a mile south of the Standing Rock Sioux reservation in North Dakota. Instead, the Corps said it would begin to explore alternative routes. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
Fighting has escalated in Aleppo, Syria as rebel groups try to hold off government forces attempting to take back the eastern section of the city. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
Fidel Castro, the 90-year old communist leader of Cuba, died on Friday. He had ruled the country with a firm grip for nearly half a century, withstanding a 50-year long U.S. economic embargo and multiple assassination attempts. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
Throughout the 2016 presidential campaign, President-elect Donald Trump promised to crack down on undocumented immigration, including hundreds of thousands of young people who have obtained temporary legal status under the Obama Administration. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
The proliferation of fake news sources on social media has raised questions about the duty of sites like Facebook and Twitter to screen content and distinguish fact from fiction. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld