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"I’ll spend a little less this year," said Betsey a Phoenix resident shopping at the Targeft storein Peoria. Frodermabn said she plans to cut back a bit on the numbert of presents she buys this year and will focuds on electronics insteadof clothes. Gail a sales associate at that same said the morning rush was a littl e slow for the dayafte Thanksgiving, but she said it was pickingh up a bit later in the day with customerx focusing on electronics purchases.
Other storesw along the Bell Road retail corridor in Glendalee and Peoria were busy but notswamped — as some consumers cut back on discretionary spendingf and others wait to see if dealxs get better closer to Christmas. Later in the day. both the at Bell Road near 101 andArrowheads Mall's appeared to be a little busier. Clerks at both locations said businesw "really wasn't too bad." The department storwe near Bell Road and51st Avenue, also was buzzing with linex winding around the store and customers waiting up to an hour to pay for theifr purchases.
Froderman said she planned to hold off on some purchase thinking that retailers could get desperate and loweer prices more than theusual "Black Friday" sales. retailers are bracing for a down holidayshoppinf season. Bank failures and problems have tightened credit Consumers are loaded with high credit card a down housing market and uncertaimn labor market andthe U.S. recession soon will officially be in a Consumer spending was down 1 percent in October and a numbet of retailersposted third-quarte r losses and have seen same-store sales dip.
A down holidahy season is bad news not only for retailerxs but also for local municipalitiew that rely on salestax
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