If this is November, it must be time to write stories about the holiday shopping season. It would easy to be blas & #233; about the annual exercise were it not for the fact that consumer spending represents about two-thirds of the U.S. economy, and holiday sales are a big chunk of that.

There was a time when no one paid much attention to the Christmas outlook until the day after Thanksgiving. That’s all changed, of course. Holiday merchandise is already on store shelves, and discounting is a routine part of the seasonal strategy a far cry from the days when no one would consider putting items on sale until Dec. 26.

I always found retail to be one of the best beats, because it provided an entry point into the basics of economics. There’s no easier way to understand the concept of supply and demand than to stand in an aisle of Toys ‘R’ Us a few days before Christmas and see exasperated parents realizing that the one item their kid wants has been sold out.

Hey, at least it makes a good story.

Mark Lacter

Editor