podcastsinenglish Level B.69 The economics of Christmas
Dec 7, 2017
Explore the financial frenzy that surrounds Christmas as hosts dive into its significance for retail. They reveal staggering holiday sales figures, comparing spending habits between the US and UK. The shift to online shopping is highlighted, alongside a decline in physical store traffic. Discover which industries thrive during the festive season and which sectors struggle to stay afloat. Key shopping days like Black Friday and Super Saturday also make an appearance, ensuring listeners are reminded to shop smart this Christmas.
AI Snips
Chapters
Transcript
Episode notes
Holiday Spending Drives Economies
- Christmas is the largest economic stimulus for many countries as retail sales jump across most categories.
- The US retail industry generates over three trillion dollars during the holidays, showing massive seasonal impact.
Americans Spend More On Gifts
- The average American spends about $900 on Christmas gifts, far higher than the UK average.
- Richard and the host highlight significant per-capita differences in holiday gift spending.
Online Shopping Eats High Street Sales
- Online Christmas shopping is rising while in-store sales decline, even amid downturns.
- UK physical shop sales are expected to fall about 2.8% this year, reflecting the digital shift.