Global Meltdown

In a global poll of consumers, 72 percent said they're cutting back expenses in some way in this economy. Among emerging markets, only Brazil is not showing a decline in consumer confidence. China's consumer optimism declined 47 percent from 2007 to 2008. Among established markets, Germany, Holland, and Sweden have shown some resilience in the economic crisis. –3% Percent change in total online retail sales for holiday 2008. –24% Percent change in online jewelry and watch sales year-over-year, holiday 2008 vs. 2007. Amazon.com, however, had its strongest holiday in 14 years and posted an 18 percent increase in revenue, to $6.7 billion, and a 9 percent year-over-year increase in profits. Holiday best sellers on Amazon.com: Source: ComScore Diamond earrings (0.50 cts. t.w.) $100 Diamond cupcake
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