Boxing Day Madness

So the economy is in the tank. And maybe you're one of those unfortunate souls who is really struggling because of it.

So does that mean you didn't bother with the Boxing Day sales in your area?

From what I saw in Saint John, not so much.

I went out on Dec. 27 (Boxing Day being a "Day of Rest" in New Brunswick), and went to a few stores. And what I saw were people who were still spending just as much on electronics and clothes and everything else that might have been on sale for ridiculous prices.

For myself, it meant spending $100 on DVDs at HMV. There were some steals in that store. My friend Kyla found a collector's edition box set of E.T. The set has two versions of the movie, a book with photos, annotated script pages, and a frame from the film itself. Regular $100. Kyla picked it up for $6. I can't even fathom how it came to be reduced by that much, but there it is.

There were deals everywhere, and I was surprised to see so many people out spending money in these tough economic times. But then something crossed my mind.

Maybe everyone waited until after Christmas to buy the really nice gifts for friends and family members.

Think about it. My youngest brother got an XBOX 360, which cost around $300. Toys 'R Us was selling the unit on Dec. 27 for about $240.

So why wouldn't you wait until after Christmas to buy yourself a brand new video game console, or a giant plasma television? Why not wait to buy some movies or music until they're on sale for a couple of bucks.

Sure, retailers lose money on merchandise when it's on sale for the crazy reduced prices seen during Boxing Day sales, but it almost has to balance out in the end. They had less business leading up to Dec. 25, when prices were more or less what they'd be any other time of the year, but then they sell boatloads of merchandies between Dec. 26 and New Year's. Granted, it's at much lower prices, but they're selling more.

So maybe the economy is struggling. And maybe some of those who bought brand new, 50" LCD televisions will see them repossessed in six months. But for now, it seems the consumer mentality is alive and well in North America.

Long live the credit card!

-BT