Giving and Getting
Getting Is Giving
Christmas Economical Beneficial
LilyAnn Marx
Christmas as a whole has evolved over the years. It’s not just decorating one tree in your yard anymore it’s every tree, every trunk, every bush. Electronic gadgets geared toward gift buyers, the lights outlining the roof line illustrate new sources of growth productivity and prosperity.Not everyone is in the Christmas spirit or decorate for Christmas, there might even be some people who see Christmas decorations as a waste of energy, which yeah it kinda is a little wasteful but it’s for a good Reason. Christmas is a very religious holiday, the light you put on the tree and around your house are symbols of the light of Christ: In Christian tradition, candles are a symbol for Jesus and the light he brings to earth even in the darkest times. Symbol of the light, hope and good in the world: The Christmas lights also served to remind good Christians to provide light to others.
A holiday lighting dollar simply goes further than used to, between the shopping frenzy of Black Friday and Cyber Monday to the last minute sales just before Christmas, the American commercialization of Christmas plays a very big part in how much the average American pays for all of his or her holiday expenses. 2015, the average American spent $882 on holiday gifts. In 2016, it was that the average American will be spending $929 on gifts for friends and loved ones In 2001, the average planned spending was $1,052, the highest ever. After the recession in 2008, planned holiday shopping dropped to $417 in 2009, less than half of what people plan to spend this year.An increasing number people are planning on doing at least some of their holiday shopping online, and 61% are planning to wait for sales in order to save money. Holiday spending is still not back on the pre-recession trend, it seems to be heading in that direction possibly thanks to lower unemployment, stronger growth and higher confidence in the economy. Also if you think about it all the money the economy is receiving during Christmas time goes back into the community.
Work Cited
Carney, John. “The Economics of Christmas, a Holiday Satire.” CNBC, CNBC, 25 Dec. 2013, www.cnbc.com/2013/12/24/the-economics-of-christmas-a-holiday-satire.html. Accessed 25 May 2017.
Haury, Amanda C. “Average Cost Of An American Christmas.” Investopedia, 27 Dec. 2016, www.investopedia.com/financial-edge/1112/average-cost-of-an-american-christmas.aspx?lgl=myfinance-layout. Accessed 23 May 2017.
Virginia-postrel. “Light Unto the Wealth of Nations.” Reason.com, 19 Dec. 2003, reason.com/archives/2003/12/19/light-unto-the-wealth-of-natio. Accessed 23 May 2017.
When there is less money in peoples pockets they are very picky about where they spend that money. That's why it would make sense that people chose to save in 2008. Now the economy is booming so it can be assumed that people are willing to spend more on the upcoming Christmas, this in turn stimulates the economy through more cash flow and can continue to increase the U.S.'s economic health.
ReplyDeleteI find it interesting the amount of money the average American spends on gifts, it's really quite a bit. Although it does make sense that after the recession the spending on gifts specifically was about half of what it is now. I also feel like the spending on Christmas may be going up because people are buying gifts for more people, not necessarily bigger gifts. One final factor on the high spending could be people like myself never going out shopping during the sales and buying gifts on the last day so they aren't cheap anymore since they determined the opportunity cost of shopping on black friday was too high, with so many others doing it.
ReplyDeleteCyber Monday I think is the most popular day that cumsumers buy their gifts before the holiday even starts. Black Friday is a big one also but as there are more decreasing sales on line more and more people use that day for last minute gifts rather then buy everything at once. The only opportunity cost with going on Black Friday is that if you really want a product that you really want but it's not at the store that you are camping in front of all night then you miss out of getting that one product just to get another when on Cyber Monday you can get it all at once.
ReplyDeleteAlthough people may not be buying holiday supplies all year stores are still selling holiday supplies. During the off season when the date is no where near the holiday the supplies go for a lot less. Due to this some people while try to buy a lot of their holiday supplies during the off season in order to save money.
ReplyDeleteThe large changes in spending on Christmas presents definitely is related to the elasticity of demand of consumers. If the prices of presents change a lot when consumers have a lower income, they are going to be much less likely to buy it, thus decreasing their overall spending. Along with that comes the general trend of increased or decreased spending based on how the economy as a whole is doing that year.
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