Archive for the ‘gifts’ Category

Meltdown fallout: some parents rethink toy-buying

November 29, 2008

In a season that inspires earnest letters about toys, one notable batch is being sent not by kids to Santa’s workshop but by parents to the executive suites of real-world toy makers.

The message: Please, in these days of economic angst, cut back on marketing your products directly to our children.

By DAVID CRARY, AP National Writer

The letter-writing initiative was launched by the Boston-based Campaign for a Commercial-Free Childhood, which says roughly 1,400 of its members and supporters have contacted 24 leading toy companies and retailers to express concern about ads aimed at kids.

Jessica Luu, left, looks for deals as her friend's baby, Kaylee ... 
Jessica Luu, left, looks for deals as her friend’s baby, Kaylee Oliver, inspects a toy in the shopping cart, as shoppers at Toys ‘R’ Us at The Forum at Olympia Parkway in Selma, Texas look for the best savings on Black Friday, Nov. 28, 2008.(AP Photo/San Antonio Express-News, Bob Owen)

“Unfortunately, I will not be able to purchase many of the toys that my sons have asked for; we simply don’t have the money,” wrote Todd Helmkamp of Hudson, Ind. “By bombarding them with advertisements … you are placing parents like me in the unenviable position of having to tell our children that we can’t afford the toys you promote.”

The Toy Industry Association has responded with a firm defense of current marketing practices, asserting that children “are a vital part of the gift selection process.”

“If children are not aware of what is new and available, how will they be able to tell their families what their preferences are?” an industry statement said. “While there is certainly greater economic disturbance going on now, families have always faced different levels of economic well-being and have managed to tailor their spending to their means.”

Read the rest:
http://news.yahoo.com/s/ap/20081129/ap_
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Make-or-Break Holiday Season Looms Large for Retailers Amid Global Financial Crisis

October 9, 2008

By Ylan Q. Mui and Kendra Marr
Washington Post Staff Writers
Thursday, October 9, 2008; Page A01

Each day of financial tumult is bringing more pressure to bear on the nation’s retailers — and time is growing short.
Yesterday, as the clock ticked ominously down to the critical holiday season, department stores and clothing retailers reported a sharp drop in sales while Target said its shoppers are delinquent in their store credit card payments. Port traffic, meanwhile, has been plummeting as retailers cut back on inventory.

“I don’t think anyone predicted a crisis of this magnitude that couldn’t be fixed quickly,” said Bob Carbonell, chief credit officer for Bernard Sands, a retail rating and credit services agency. “If the American housewife puts the money under the mattress, we’re in deep trouble.”

In a year that seems to be defying all economic expectations, retailers are struggling to plot a course through the make-or-break holiday season, which accounts for nearly 20 percent of their sales each year. Will they have access to credit? How much merchandise should they order? Will anyone buy it? The moves they make now could determine where they stand in January.

The past three months were expected to bring the deepest cuts in consumer spending since the 1991 recession. September’s dire economic news — from the collapse of Lehman Brothers to the freefall in the financial markets to the government’s $700 billion rescue plan — have spooked shoppers and eroded confidence. On the day that the House of Representatives rejected the rescue plan, mall traffic plunged 12 percent, according to research firm ShopperTrak.

Scott and Elaine Bourdeau feel the ripples. The couple, who live in Herndon, had planned to travel to Italy for their 10th anniversary but opted instead to save money with a short trip to the San Francisco Bay area. They’re postponing remodeling their bathroom and focusing on necessities — clothes for their two daughters.

Read the rest:
http://www.washingtonpost.com/w
p-dyn/content/article/2008/10/08
/AR2008100804024.html?hpid=topnews