Are you expecting some huge collapse in the economy? Radical tightening of spending?
I bet that people will spend 5-10% less on holiday shopping this year. Enough to put a dent in overall numbers, enough to affect retail stocks, but not enough for a real visual difference in store crowding.
Also, mall traffic is heavily driven by teenagers, who aren’t as affected by housing prices.
The Christmas season has started already. Retailers know it will be a light year, and they’re really trying to grab as much as they can, as early as they can. I think that internet shopping has also made the entire industry start earlier.
