Randomly Noted

Anecdotally, it appears Americans are out shopping today, grabbing flat-screen TVs and other electronic items they probably don’t need more of. Early evidence suggests the likes of Wal-Mart, Best Buy and Target are faring well this Black Friday while higher-end stores are seeing lackluster shopper interest. The prevailing consumer psychology seems to be: Grab discounted electronic goods now before already-slim inventories evaporate – then worry about the smaller gifts and stocking stuffers in the days and weeks before Christmas. Consumers seem to have digested news reports that retailers, hungry for profit margins, avoided stocking up before the holidays because they didn’t want to get stuck with excess inventory they’d ultimately have to offer at massive, profit-eroding discounts. Given this reality, it makes all the sense in the world to buy splashy, big-ticket presents early – if, that is, there’s a compelling reason to have yet another television. Which isn’t at all evident to me. One family interviewed by my DJN colleagues bought three TVs this morning, and a disc player. A family needs no more than one television in robust economic times  much less in an era of 10.2% unemployment.