Retail Sales Down Nationally During Holiday Season

Traditionally during the holiday months, shoppers are focused on spending their money on presents for under the tree. But with prices for holiday items still high, a new economic report shows shoppers spent less in the past month.

The Department of Commerce said retail sales fell 0.6 percent from October to November. That’s the lowest since December of 2021.

Financial Specialist Paul Hood said there are multiple reasons to explain the sudden drop.

"Last year and the year before, the government put a lot of money in peoples' pockets and they were spending that money. This year in 2022 the government didn't give the stimulus checks and the advanced child tax credit, so you take that, there's less money in the consumers hand and add inflation, add uncertainty because of negative politics and those kinds of things. Then it's natural for people to think people are going to hold back and not spend as much,” Hood said.

Despite the national trend, local stores like Ida Red General Store said business is going strong for them.

"This is our high season, this is our prime holiday shopping time,” Bumsted said.

"It is a small business. It's not some big corporation and we so appreciate our customers and we try to develop a relationship with them and really take good care of them,” Bumsted said.

Bumsted hopes people will continue to support local businesses all over Green Country.