Tuesday, May 20, 2008

So, people might use rebate for things like gas?

This is definitely one of those "duh" moments. Let's be honest; with the nation's economy the way it is, did anyone really think that most people would take their tax rebate checks (also known as "money the government took from us and now is giving us back expecting us to give it back to them") on things like electronics? Now, keep in mind, this is a survey (note: you can find the full survey results at that link) from the National Retail Federation, the nice folks who are more than happy to take your rebate check money in exchange for all sorts of unnecessary crap. So take it with a grain of salt. However, the headline on their press release definitely qualifies it for a "Department of the Obvious" label on this blog:

"NRF Survey Confirms Consumers Plan to Spend Much of Rebate Checks on Necessities"

To which I say, "no shit, Sherlock." Let's look at things a bit, shall we?

  • "Because of the increasing prices of gas and groceries, consumers plan to spend more of their rebate checks on necessities like gas and food rather than on discretionary items like electronics and apparel." Oh really. I wonder why.
  • Here is what the NRF finds really depressing I am sure: "As a result, fewer people plan to spend rebate checks to buy furniture (2.7 million vs. 4.0 million in February), purchase a vehicle (2.4 million vs. 3.2 million in February), or use it for “me” time at a salon or spa (2.9 million vs. 3.5 million in February)." All those spa owners may be a little devastated when they find less people treating themselves to "me" time.
  • And who is more likely to do what with the money: "According to the survey, women are more likely to spend and/or save portions of their rebate check, while men are more likely to pay down debt. Young adults 18-24 will spend more of their checks (43.5%) than any other age group."
Just another sign things are getting ugly. Previously, we mentioned the concerns of the Miller CEO. Will it ever end folks?

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