As much as I hate some of what retailers have done to the holidays, there are aspects that create a frenzy that may help inspire consumers to shop more.  That frenzy – for good or bad – wasn’t there this year and for the most part, retailers are to blame.  Just looking at the decorations made it quite obvious that this year wasn’t the same as years past.  Fewer people and companies were going all out to one-up each other like in years past, and by the 15th every ornament, tree, and blow up lawn decoration was at least 50% off, if not more.  In San Jose, Trader Joe’s market was giving away wreaths by the truckload on the 20th!  Well before the season died on its own.

According to SpendingPulse, a macro-economic report offered by Mastercard, retail and service sales from Nov. 1 until Dec. 24 showed retail sales down between 5.5 percent and 8 percent. Half of the decline in overall sales can be attributed to the 40 percent drop in the price of gas compared with December 2007. Excluding gasoline, sales were down 2 percent to 4 percent.