Until the job market improves, don’t expect consumers to start spending. Consumers are not spending even in holidays and festival time because they dont know when they require money and when their job will be lost. Everyone can easily see months of lighter traffic, lower sales and pressure to cut prices.
People feeling a lot poorer these days, never seen so many consumers concerned about job security,
Latest survey, taken the weekend before Easter, showed that 56% of U.S. consumers plan to spend less than they did last year, compared to 6% who plan to spend more.