As far as I know Santa’s not a smoker, His belly shakes like a bowl of jelly when he laughs which was stated in a poem. For the first time in the history round about 159 years in numbers, there comes a time where that bearded man won’t be sitting with the children and making their Christmas wonderful.
That’s all happening because the Covid-19 is around in the world making people celebrate the occasions by keeping the social distantancing. According to UBS new forecast it is expected that the retails will start selling the Christmas items in November.
There is a good news that Retail sales got the pace in September, joblessness remained high but he people who are employed they have money to spend because of less spending on holidays and meals due to Covid-19.
The National Retail Federation said about fourth quarter sale that they are cautiously optimistic that may be the sales will rise, but UBS analyst Jay Sole published a report stating that the sales will drop by 10% to 12% on yearly basis.
The prediction is point towards the sales of products like clothing and accessories not the products like appliance and electronics. This year 41% of the people said the economy would affect their spending’s in comparison with 28% last year. The numbers suggest big shift words online people not going to shopping markets. There is an increase number of shoppers that says that they will start the shopping for holidays in November.
Third wave of Covid-19 is in USA, there is pressure in that on hospitals and people are also dying. If that trend continues then then the retails sales will face a decline in their holiday’s sales.
Biden says he wants to raise the Tax on high earners from 37% to 39.6%, channeling the funds towards health programs. For the people who are making 1 million dollars will have to pay capital gains tax rather than special low rates of 20%. People who make money on appreciation of their stock Biden is against that strategy. This will create an impact the stocks that are maintained by the big retail giants, if Biden prevails. This concept is call window dressing that the retails will artificially maintain their stock to present profits or losses, which will eventually show a increase or decrease in its sales.