With more money towards taxes, utilities, and insurance ...why would spending on gifts increase?
BINGO. What is driving down Christmas sales this year is the increasing amount your paycheck going to pay for higher taxes and especially the Obamacare mandates. In short, less discretionary income in 2014 is about to hammer Christmas sales.
Maybe it's high time we massively overhaul both government regulations and our tax laws so people enjoy far more take-home pay after taxes and insurance needs.