Consumer Spending Throughout The Seasons Essay

It is obivious that the proportions of payment for housing and education in this country decreased over the period shown whereas the figure for food, health care, transportation and other rose. In 1950, housing was the costliest need, but food was the costliest one in 2010.

Retail industry has gradually become the second largest industry, in terms of employment rates and establishments in the united states, it is the leading industry.it is estimated to be generating approximate of $5 billion annually in retail sales. For example, Wal-Mart is the leading retail shop in the world. It has an annual income of $312 billion and has a workforce of around 1.3 million in the united states and internationally it has more than 400,000 associates. It is an international corporation that was established in 1962. It controls a larger market of the retail industry, this is by their widespread chain of grocery stores, supermarkets and department stores.

Not only does seasonality play a role in Ross’ sales, but also technology. Sales have been slowly but steadily rising meaning that businesses are positively making profits and growing from past years production and profitability, this is always important because one at all times wants to see that the company is headed in the right direction as far as growth and profitability is concerned. It is great to see that at the moment the U.S economy is rising for the better of the businesses and of the people. (Amadeo, 2016) We need more of this positive streak to keep going on so that more jobs will be created because of the companies doing good they’ll want to create more stores which means more jobs.

This is a time of the year when there are shoppers busy online to make most buying that they might have ever made during the course of a year, it makes the market look into compassion with different services which certain people are willing to make use of and purchasing is a simplistic application

Three quarters of the U.S. population would spend essentially all of their yearly incomes to purchase consumer goods such as food, clothes, radios, and cars. These were the poor and middle class: families with incomes around, or usually less than, $2,500 a year. The bottom three quarters of the population had a total income of less than 45% of the combined national income; the top 25% of the population took in more than 55% of the national income. While the wealthy too purchased consumer goods, a family earning $100,000 could not be expected to eat 40 times more than a family that only earned $2,500 a year, or buy 40 cars, 40 radios, or 40 houses.

Have you ever been to Fred Meyers or Albertsons and contemplated why the prices are so much higher than at Wal-Mart? Well this is simply because Wal-Mart chooses to lower their prices by using unfair and unjust practices to undercut businesses. Additionally, by lowering their prices Wal-Mart is able pay their workers a much lower wage than other convenient stores. While this is good for their own business and most consumers, it is bad for America's economy and our tax dollars. Since 1962, Wal-Mart has progressively become one the largest corporations in America.

The U.S economy is a mixed economy and it is the largest in the world. It accounts for 17 to 22 percent of the world’s GDP. Consumer spending in U.S accounts for 70% of the national economy. People generally spend on necessities like food, housing and clothes and on buying non-essential goods and services that fall under discretionary spending category. With a huge reduction in gas price and unemployment there is a steady increase in discretionary spending these days. According to U.S bureau of labor statistics consumer spending increased 3.4 percent in 2015 after advancing 4.2 percent in 2014.

Also, the income that people earned determines the level of consumption. The more they earned, the more or luxury goods they are able to purchase.

Holidays have always been known to affect our consumer culture for many years, but how it all began eludes many people and very few studies have been completed on it. Even though some say that the subject is too broad to precisely identify how holidays, especially Christmas, directly affect our market, I have found that people’s values, expectations and rituals related to holidays can cause an excessive amount of spending among our society. Most people are unaware that over the centuries holidays have become such a profitable time of year for industries that they now starting to promote gift ideas on an average of a month and a half ahead of actual holiday dates to meet consumer demands.

Each year I see exactlly the same action happening. The idea of Christmas appears earlier and earlier. Last Christmas I saw stores actually putting up Christmas objects up right after Halloween. What happened to Thanksgiving? Stores know they can do this and get away with the action because that is how people are right now. After a certain time, some people go into a Christmas mode. Got to get this item, got to buy these presents, got to set up Christmas decorations and tree. For people Christmas comes earlier and earlier. Stores take a hold of this and destroy the action. They will make sales for certain items, even when black Friday is not yet up yet. Sales on Christmas trees and sales on ornaments. I remember when these sales were directly

I moved through the process of selecting the right gym to join quite quickly as I was very motivated to get started. I took into consideration that this purchase posed physical and social problems and considered those when making my decision.

Walmart strives to bring good value to its customers under one roof. They provide a wide variety of goods and brands at competitive prices.

As Black Friday has progressed along with retailors marketing their products and their sales, it has become a national day of shopping to get the best deals. Americans mainly go shopping on this day to get huge deals for Christmas presents. Stores have even taken this great opportunity to open their establishments for 24 hours. Just last year, consumers spent a whopping $57,400,000,000 with each consumer individually spending $410 on average. The #1 retailor customers purchased from and camped out at was Best Buy. All of the statistics are based on 2013 and this year was projected to be an 11% increase.

Within Veblen’s, The Theory of the Leisure Class, chapters 5 and 6 thoroughly explains the social norms of economic status / evolution of economics. Chapter 5, talks a great deal about who it is most common that people spend more money than they actually wanted to. However, this happens due to the want to be just like everyone else, so they buy branded items which typically cost more than off brand ones. Once people get in the habit of always spending more than they wanted it is harder to start budgeting.

A growth in consumer’s disposable income means that have more spending power for their children, however, a fall in consumer’s disposable income will constrain industry demand, as consumers will reduce discretionary spending, clothing is essential to first time parents, but overtime it becomes a discretionary purchase.