After Christmas: International Retailers Fret About Consumer Debt

Posted by: Sally S. | Dec 26,2007

Although other countries saw big sales on the day after Christmas, some worry about the long-term implications of customer spending sprees. The days following Christmas include some of our favorite retailers’ biggest sales. I even know couples who waited until after the holiday to buy each other Christmas presents, to cash in on the big savings. Hundreds of millions of dollars were spent at post-Christmas sales worldwide. Yet, some retail experts are expressing concerns about the money they’re raking in- go figure.

 

As consumer debts continue to rise, international retailers worry that they’ll get hit hard later in 2008. If shoppers are shopping with credit cards, says a spokesperson for the Australian Retailers Association, stores may see a sharp downswing when the bills come due over the next few months. Australian financial experts agree: Aussies are afflicted with the same credit card debt that the rest of us are having, and there will be a price- possibly in the New Year. The country’s debt, like our own, has sharply risen and much of that debt is from credit cards and experts predict a downturn in the national economy.  

 

Because I research these kinds of stories all the time, I’ve become accustomed to the widespread economic panic that’s being reported in the news almost daily. I’m hopeful for all of us that our credit card debts and time to repay those debts will become less punishing in the New Year.

 

Compare quotes for home refinance loans and debt consolidation loans from multiple lenders at LowerMyBills.com. LowerMyBills.com can help you find additional money to pay down credit card debt- so you don’t become another statistic.

Sponsored Resources Ads by Google