Sunday, October 9, 2011

Are the rich finding the true meaning of Christmas?



Even the wealthiest Americans plan on putting fewer gifts under the tree this holiday season but it's not because they can't afford it. These people seem to be discovering the true meaning of holidays; the holidays are about family and friends, and less about a pair of new cashmere socks. Many affluent consumers are buying fewer gifts this holiday season, because they realized that they don’t need as much stuff and don’t have to spend money to feel happy. In addition, they said that they are going to buy things that symbol the quality of relationship. 84% of affluent Americans said that they want this to be a great holiday season for their family. Eighty-one percent said that the best part of the holidays is spending time with the people they care about, versus only 15% who said it was giving gifts. Just 3% said the best part of the holiday was receiving gifts. As I read this article, I find great enlightenment that is true meaning of holidays. In retrospect, I think that I also expected to receive gifts in last Christmas. I realize once more that holidays are good chance to be close to our family and that is the purpose of holidays. Also this can relate to the law of demand, because as people don’t want to buy many gifts and just buy fewer, demand would be decreasing.
 

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