It looks like consumers are playing chicken with the retailers again according to this article. It looks like heating bills may be the culprits this time around:
HereÂ’s the bottom line: So far the retail picture has been a decidedly mixed bag. Consumers are spending, but stores have had to rely on heavy discounting. After what could be described, at best, as a decent start to the holiday season, indications are that sales have already started to tail off. The last few days leading up to Christmas will be critical. Unfortunately for retailers, this will come immediately after many consumers receive their first winter heating bills. Sticker shock could lead people to lower their thermostats on holiday spending, leaving many retailers out in the cold.
I'm not sure if this will be the case though. I think Americans will still be able to buy what they want this holiday season. They will probably tighten somewhere else instead. I wonder what the statistics are about heating oil usage this year? People could be using less oil or just heating one room to save money like the Europeans.
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