Electronics spending looks hot for holidays

Santa Clause may be coming to town with a bag packed with consumer electronics. The Wall Street Journal reports that “early holiday spending suggests a strong season for TVs, videogames.” The article says that US shoppers spent 6.1% more on electronics in the first half of November than they did in the first half of November 2008, according to MasterCard SpendingPulse data, which takes into account all forms of cash, check, and credit-card payment. The overall news isn’t as good. The uptick in electronics for the year-over-year half-month estimates contrasts with a corresponding drop of 3.3% in women’s apparel and a drop of 9.2% in luxury goods.

The article notes that the electronics estimates have been boosted by sales of the hot videogame Call of Duty: Modern Warfare 2 and by sales of computers loaded with Windows 7. In addition, the article says, “…retailers such as Best Buy Co., Wal-Mart Stores Inc., and Amazon.com Inc. have begun earlier-than-usual promotions on TVs and videogames.”