More Ho-Hum Than Ho Ho Ho This Holiday Season
By now, the shortcomings of this recovery are readily apparent to folks from all walks of life — and to retailers as well, who seem to be planning with a mindset of modest expectations. It’s remarkable how little enthusiasm we hear coming from retail executives these days. But however imperfect this recovery is, it is less imperfect than it was a year or two ago — that is to say, our economy is improving … gradually. Consumer spending restraint on discretionary goods continued in the first half of 2015, much as it has for the last couple of years. Contributing to the restraint this year is slower spending growth by more affluent shoppers and the impact of the stronger dollar and global financial markets turbulence on U.S. tourism and spending.