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Itโs a good bet that Californiaโs holiday shopping season wonโt be delightful โ nor will to be frightful.
Sure, thereโs a sleighful of worry as the annual gift-giving rush begins. There are economic gyrations and geopolitical uncertainties โ domestic and international. Did I mention no easy and final cure for the worst bout of inflation in four decades?
Itโs the kind of anxiety-building pattern that could let Scrooge-like thinking creep into most Californiansโ shopping lists.
Curiously, some of that skittishness stems from business strengths. Think of inflation, for example. Itโs a by-product of an overperforming economy. Low unemployment has boosted paychecks and employersโ labor expenses, which often are passed on to consumers.
So, times are relatively good for numerous folks in the Golden State. Thatโs enough economic underpinnings for a ho-hum shopping surge surrounding the ho-ho-ho season.
However, itโs by no means simple to build an upbeat year-end retail outlook. Take a peek at 12 economic variables that are shaping Californiaโs holiday shopping spirits โฆ
The basics
These factors set the overall tone for the holiday shopping season.
Sales momentum:ย Californiaโs shopping cooldown is already underway. Retail sales fell at a 0.1% annual rate in the past year vs. a 5.5% average growth in the past five years. Last yearโs holiday season saw sales jump 4.9% after a 12.6% surge in 2021.
Jobs, jobs, jobs: You need a paycheck to be a serious holiday shopper and unemployment has been low. The statewide rate averaged 4.6% this summer vs. a 6% 10-year average. Joblessness was 4.1% during the past yearโs holiday season and it was 5.8% in 2021.
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Raises:ย The size of paychecks also matters to retailers โ and these arenโt gravy days. California pay rose 3.2% in the past year vs. a 3.5% 10-year average increase when measured by a mix of California wage swings and the employee cost index. Recent pay hikes also look small vs. 4.7% growth in 2022 and 4.4% in 2021.
Inflation: Just about every shopper feels the pain of a surging cost of living. The US inflation rate averaged 3.6% this summer โ nearly a point above the 2.7% 10-year average, according to the Consumer Price Index. But itโs better than last holiday seasonโs 7.1% or 6.8% in 2021.
Bill paying:ย The rare late payment suggests Californians can afford what they bought. Consumer delinquencies run 1.1% of all debt statewide vs. a 2% 10-year average, according to the New York Fed. Yes, itโs up from last yearโs 1% but that was essentially a historic low.
The industry
What retailers do with staffing says a great deal about what they think of the chances for big holiday sales.
Workers:ย Retail employment across California is up 0.4% in the past year past year. Thatโs on par with 10-year growth โ a noteworthy advance considering all the business lost to online competition. The last big holiday hiring spree โ a 3.1% jump in 2021 โ was more restaffing after pandemic lockdown losses.
Salaries:ย Californiaโs total retail payrolls grew by 4.7% in the past year vs. a 3.7% 10-year average. Merchants have to compete with other employerโs hefty pay raises to keep stores adequately staffed.
The psyche
What shoppers think, rather than economic fundamentals, counts, too.
Optimism:ย Consumer confidence in California is up 2.5% this year โ support for a modest shopping spree, according to the Conference Board. Itโs better than last holiday seasonโs 7.7% confidence dip but it pals vs. a 41% jump in 2021.
Real wages:ย When to mash up pay hikes vs. inflation, it looks depressing. Consumer buying power fell 0.4% in the past year vs. an 0.8% increase on average over 10 years. Some solace may be found when noting 2.4% dips in buying power in the previous two years.
Net worth index:ย ย California wealth isnโt simply paychecks. So consider my measurement of stocks and house prices โ up 8% in the past year when looking at the Nasdaq stock and FHFA home indexes. Yes, itโs below a 12% 10-year average. Itโs also a sharp reversal from last yearโs 8% loss.
The big picture
Consider the national economic backdrop, too.
Online shopping: The bane of every brick-and-mortar merchant continues to grab shoppingโs sizzle. US โnonstoreโ sales grew 8% nationally in the past year โ but thatโs a slowdown from a 12% average since 2018.
GDP:ย The total business output of the US is surprisingly robust. Gross domestic product, a broad measure of economic production minus inflation, grew 2.9% in a year compared to a 2.3% average expansion since 2013.
The bottom line
Retailing gurus project meek but noticeable US sales gains this holiday season nationwide.
Yet those meager advancements may feel disappointing following two robust shopping sprees as the economy emerged from its coronavirus cobwebs. Ponder some highlights are various forecasts.
Look, most Americans are ready to shop with 74% of folks surveyed telling pollsters theyโll spend the same or more this holiday season, says Boston Consulting Group. And thatโs why it will be a record-breaking holidays as the typical US shopper spends $1,652 on seasonal goodies, say the consultants at Deloitte.
Still, US holiday sales will be up just 3% to 4% vs. 2022, says the National Retail Federation. That growth is below 5.4% in 2022 and 12.7% in 2021 โ but on par with a 3.5% average in pre-pandemic 2003-19.
And whatโs being bought will change. Shoppers will spend 7% more on holiday gifts but 16% less on non-gift seasonal spending โ think food or events โ says the Conference Board.
But thereโs one constant:ย online shopping grows. Nonstore buying will grab 19% to 20% of holiday sales vs. 14% in 2019 and 18% to 19% in 2022, says EY Parthenon.
PS: Score your holiday shopping confidence by taking an online quiz at https://bit.ly/holidayforecast!
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com
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Thereโs that whole pesky Thanksgiving night game in Seattle to deal with first, but itโs almost here.
The 49ers at the Eagles on Dec. 3. The rematch of last seasonโs NFC Championship Game, which ended for all intents and purposes the moment quarterback Brock Purdy had his right elbow structure rearranged on a sack by Haason Reddick with 7:03 left in the first quarter and Philadelphia leading 7-0.
The Eagles have what could be a difficult game themselves before the 49ers come to town, as they host a talented but underachieving Buffalo team that had its sights on a Super Bowl as well.
Philadelphia rallied from 10 points down to beat Kansas City 21-17 Monday night, with Jalen Hurts hitting a 41-yard sideline streak to DeVonta Smith to set up the winning score and the Chiefsโ Marquez Valdes-Scantling dropping a rainbow by Patrick Mahomes with 1:50 left that could have won the game.
Yet neither Hurts nor the Eagles are operating at the same level they did a year ago in getting the top seed with a 14-3 record. They are still sorting through issues with two new coordinators, with both Shane Steichen (offense) and Jonathan Gannon (defense) leaving for head coaching jobs in Indianapolis and Arizona.
โIt wasnโt pretty. There was a lot of ugly moments in it, but they just kept fighting and staying together,โ Philadelphia coach Nick Sirianni said. โEveryone just stayed together. The defense kept making plays, waiting for the offense to make one, and we did in a critical situation.โ
And despite being a game behind Detroit and two behind Philadelphia, the 49ers are playing at something closer to their potential. Donโt rule out the possibility of the 49ers eventually drawing even in terms of record which will make their Philadelphia matchup what they hoped for all along โ a chance to stay at home for the postseason.
Hereโs how the NFC is aligned heading into Week 12:
In playoff position
1. Philadelphia (9-1): On the plus side, the Eagles have won nine of 10 games and arenโt anywhere near firing on all cylinders. That means if they get better in the last seven games, they could wind up exactly where they were a year ago โ hosting the NFC Championship Game and the favorite to return to the Super Bowl.
Next three weeks: vs. Buffalo (6-5), at 49ers (7-3), at Dallas (7-3).
2. Detroit (8-2): The Lions have had back-to-back games they could have lost, beating the L.A. Chargers 41-38 and then escaping with a 31-26 win over the lowly Bears despite turning the ball over four times. Itโs clear sailing to the division title however and their first playoff appearance since 2016.
Next three weeks: vs. Green Bay (4-6), at New Orleans (5-5), at Chicago (3-8)
3: 49ers (7-3): When Deebo Samuel is your sixth most important offensive player (after Purdy, Christian McCaffrey, Trent Williams, George Kittle and Brandon Aiyuk), being fourth in the NFL in scoring (27.9 points per game) is actually kind of a disappointment.
Next three weeks: at Seattle (6-4), at Philadelphia (9-1), vs. Seattle (6-4)
4. New Orleans (5-5): The inconsistent Saints and Derek Carr had a week off to ponder what they want to be when they grow up. Theyโre a game up in a division that could be won with a 9-8 record.
Next three weeks: at Atlanta (4-6), vs. Detroit (8-2), vs. Carolina (1-9)
5. Dallas (7-3): Itโs almost under the radar because of the Week 5 faceplant against the 49ers, but Dak Prescottโs passing numbers are nearly as good as those of Brock Purdy. Micah Parsons is on track for a 17-sack season and Defensive Player of the Year consideration.
Next three weeks: vs. Washington (4-6), vs. Seattle (6-4), vs. Philadelphia (9-1)
6. Seattle (6-4): Last yearโs playoff surprise could be out of the mix based on the next three games. Geno Smithโs elbow is a concern and he hasnโt been the same operator he was a year ago.
Next three weeks: vs. 49ers (7-3) at Dallas (7-3), at 49ers (7-3)

7. Minnesota (6-5): Iโve heard quarterback Joshua Dobbs mentioned as a possibility for Comeback Player of the Year. Remarkable story, but what has he come back from exactly? Thought the same thing about Geno Smith last year though and he won it.
Next three weeks: vs. Chicago (3-8), bye, at Las Vegas (5-6)
Still in the hunt
8. Green Bay (4-6): The Packers are still searching for a No. 1 receiver since trading Davante Adams to the Raiders. Itโs one of the things holding back quarterback Jordan Love, who may or may not get another year as the starter depending on the last seven games.
Next three weeks: at Detroit (8-2), vs. Kansas City (7-3), at N.Y. Giants (3-8)
9. L.A. Rams (4-6): Sean McVay and Co. are 2-0 against Seattle and 2-6 against everyone else. Cooper Kupp is dealing with an ankle sprain and has just 24 receptions for 375 yards and a touchdown after six games.
Next three weeks: at Arizona (2-9), vs. Cleveland (7-3), at Baltimore (8-3)
10. Atlanta (4-6): The flip-flopping Arthur Smith goes back to Desmond Ridder. The Falcons will use the rest of the season to determine if their next quarterback will be a free agent or out of the 2024 draft.
Next three weeks: vs. New Orleans (5-5), at N.Y. Jets (4-6), vs. Tampa Bay (4-6)
11. Tampa Bay (4-6): After getting a first-hand look at the Bucs against the 49ers, theyโre a legitimate threat in a poor division and have already beaten the Saints handily in New Orleans in Week 4.
Next three weeks: at Indianapolis (5-5), vs. Carolina (1-9), at Atlanta (4-6)
SCOPING THE AFC
The Chiefsโ schedule is favorable enough to regain the top seed, but there was a major flaw in how they built their team.
The belief that Mahomes could make any rag-tag group of receivers a productive unit has been an issue all year and was never more evident than when Valdes-Scantling dropped a potential game-winning 51-yard touchdown pass in the final minute.
Per ESPNโs count, Valdes-Scantling has six drops on throws of 30 yards for more and 26 drops overall.
Current seeding for the postseason
1. Baltimore (8-3), 2. Kansas City (7-3), 3. Jacksonville (7-3), 4. Miami (7-3), 5. Cleveland (7-3), 6. Houston (6-4), 7. Pittsburgh (6-4).
Outside looking in
8. Buffalo (6-5), 9. Indianapolis (5-5), 10. Denver (5-5), 11. Las Vegas (5-6)
CELEBRITIES BORN ON THIS DAY: Carly Rae Jepsen, 38; Jena Malone, 39; Michael Strahan, 52; Goldie Hawn, 78.
Happy Birthday: Itโs time to get moving. Put together your to-do list and start heading in a direction that makes you feel good about yourself, what you do and the goals you set. Change begins with you and how you live. Set up guidelines based on what makes you happy. Donโt wait for opportunities if creating them will speed things up and be self-gratifying. Your numbers are 8, 14, 24, 28, 32, 37, 45.
ARIES (March 21-April 19): Take the initiative to pick up information to help you get ahead. Visit someone who can offer inside information about a person, company or pursuit you want to infiltrate. A short trip, meeting or reconnecting with someone will pay off. Romance is favored. 3 stars
TAURUS (April 20-May 20): Doors will open if you promote yourself. Be bold and negotiate, and youโll impress the right people. Donโt be afraid to step outside your comfort zone. Make changes in your life that will alleviate whatโs holding you back and elevate what will advance your efforts. 4 stars
GEMINI (May 21-June 20): Be careful who you believe and trust. Someone will use emotional tactics and twist your words around. Ask questions, get the truth and distance yourself from people trying to exploit you. Educate yourself, substantiate right from wrong and follow what accommodates you. 2 stars
CANCER (June 21-July 22): Pay attention to detail, and youโll gain recognition for your astute and unique approach to what you do and how you handle matters. Embrace change or an offer you receive; it will enhance your security and put your mind at ease. 5 stars
LEO (July 23-Aug. 22): Donโt stress over the little things or let someoneโs decisions ruin your mood. Stay in tune with whatโs important to you and use your skills and experience to perpetuate what you want to pursue. Donโt squander money or buy into someone elseโs dream. 3 stars
VIRGO (Aug. 23-Sept. 22): The more you achieve, the better youโll feel about yourself. Donโt wait for someone to make the first move. If you want to stay ahead of the competition, take the initiative to get things done. Be careful not to give someone the wrong impression. 3 stars
LIBRA (Sept. 23-Oct. 22): Keep your emotions in check. Donโt give anyone a chance to take advantage of your vulnerabilities. Keep your home life private and your money matters to yourself. Invest time and money in yourself and the required knowledge and skills you need to reach your goal. 3 stars
SCORPIO (Oct. 23-Nov. 21): Donโt take anything for granted. Do your due diligence to ensure you get what you want. A passionate approach to life, love and happiness will give you the spark to convince others to help you on your journey. Follow your dreams. 5 stars
SAGITTARIUS (Nov. 22-Dec. 21): Be careful who you trust. Donโt share personal information or let anyone scam you into something you donโt need or want. Focus on self-improvement, health and securing your position. Concentrate on what you do well and how to use your skills effectively. 2 stars
CAPRICORN (Dec. 22-Jan. 19): Seize the moment and let your mind wander and your heart race. Do whatever motivates your enthusiasm for life, love and happiness. Donโt wallow in someone elseโs misfortune or disdain when your state of mind and accomplishments are up to you. Choose your moves wisely. 4 stars
AQUARIUS (Jan. 20-Feb. 18): Capture what matters to you and what you want to achieve. Use your connections and communication skills to help you pursue your dreams. Donโt give in or get trapped by emotional blackmail. Make decisions based on whatโs best for you. 3 stars
PISCES (Feb. 19-March 20): Learn and adjust to ensure that you get things right. Find what motivates you most, and donโt lose sight of your goal. An energetic approach to your pursuits will help build momentum and interest. Change begins with you; become the master of your destiny. 3 stars
Birthday Baby: You are entertaining, aggressive and persuasive. You are energetic and helpful.
1 star: Avoid conflicts; work behind the scenes. 2 stars: You can accomplish, but donโt rely on others. 3 stars: Focus and youโll reach your goals. 4 stars: Aim high; start new projects. 5 stars: Nothing can stop you; go for gold.
Visit Eugenialast.com, or join Eugenia on Twitter/Facebook/LinkedIn.
Want a link to your daily horoscope delivered directly to your inbox each weekday morning? Sign up for our free Coffee Break newsletter at mercurynews.com/newsletters or eastbaytimes.com/newsletters.ย
SAN FRANCISCO โ After six straight losses, Steph Curry was concerned about the โstinkโ of a โlosing mentalityโ seeping into the Golden State Warriorsโ locker room.
They got a breath of fresh air Monday evening.
Klay Thompson got his shot going, Curry received a healthy dose of support, and the Warriors snapped their skid with a 121-116 win over the Houston Rockets.
The losing streak was the Warriorsโ longest since their disastrous 2019-20 season, finally earning their first win of the home stand in its sixth and final game. With a well-rounded offensive showing, 121 points were the most they scored in regulation since the start of the streak.
โWe werenโt perfect, obviously,โ coach Steve Kerr said. โBut at this stage, you just need to win a game. That was the focus tonight.โ
Things began to turn, as they usually do, on a shot by Curry.
After going more than 20 minutes in the first half without a field goal attempt, Curry flew off a screen as time ticked down before intermission. He sank a 3-pointer while being knocked to the floor by Jalen Green and completed the 4-point play, putting Golden State up 10, 63-53, entering halftime.
Alperen ลengรผn, Houstonโs second-year center who scored a team-high 28 points, made the first two buckets of the second half, cutting the lead to five, but a transition 3 from Klay Thompson quickly widened the lead back to 10, and the Rockets would only briefly cut it to single digits the rest of the way.
Before Curryโs 3, the largest lead held by either team was seven points.
But unlike most of the early part of this season, when it has been Curry and everybody else, the Warriorsโ supporting cast picked up the slack.
Led by game-high 32 from Curry, five Warriors scored in double figures, including Chris Paul, who finished with 15 points and 12 assists for his third straight double-double, and two others contributed at least seven points. But the most encouraging development had to be from Thompson, who poured in a season-high 20 points.
After Andrew Wigginsโ breakout game Saturday, coach Steve Kerr seemed to have a plan to get his other slumping star going against the Rockets.
In his pregame comments, Kerr alluded to the โpatienceโ he had with Wiggins, allowing him to erupt for a season-high 31 points their last time out, and suggested it would pay off with Thompson in similar fashion. And on the Warriorsโ first trip up the floor, it was none other than Thompson who popped out from a screen set by Kevon Looney, freeing him up to fire off their first shot of the game.
Nine of the Warriorsโ first 13 attempts from the floor came off the tips of Thompsonโs fingers.
He snuck free as the shot clock wound down for his first, and it looked like he might be getting going when Curry found him wide open in the corner for a second triple. To the delight of the soldout crowd, Thompson converted a three-point play when he put his shoulder into Dillon Brooks, who was greeted with boos any time his name came over the loudspeakers, as a sworn enemy from his time with the Memphis Grizzlies.
By the end of the first quarter, Thompson already had 12 points. But the Warriors only led by 2.
Key 3-pointers from Dario Saric, who finished with 18, and Wiggins, who followed up his 31-point effort with 12, kept Houston at bay.
Departing from his typical substitution pattern, Curry re-entered the game at the start of the fourth quarter holding a 92-81 advantage. After six straight losses, even a Monday night game against a Rockets team seeking its first win away from Houston is a must-win, and Kerr sent his team a signal to put them away.
Up next: After concluding a six-game home stand, the Warriors head to Phoenix, where they will look to avenge a 108-104 home loss in the season opener.
Notable: Curry became the Warriorsโ all-time franchise leader in minutes, passing Nate Thurmond, in the fourth quarter. He also extended his streak of at least four 3-pointers to 13 games, the longest in NBA history to start a season.
