Anne/Ann Tergesen

speaker

196 appearances 4 recordings 1 series first heard Apr 2018 last heard Aug 2023

Anne/Ann Tergesen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · How Families Are Budgeting for This Year's Holiday Spending · 20 Dec 2021 podcast

who are in good situations planning to spend more this holiday season, and other people who are in more challenging situations definitely tightening their belts.

A woman I spoke to who actually is a retailer herself, she attends holiday markets to sell her products, and she's used that as a springboard to shop at those holiday markets.

And what she said is that because due to supply chain issues, her business is under pressure this year, so she's trying to reduce her holiday spending compared to her norm.

But she's looking for gifts that they may not cost much, but she used the word heavily curated.

So she's looking for things that really speak to the recipient.

For example, she bought some tea for a family member who loves tea.

And it's tea from a company that's owned by young adults with special needs.

And so that's a cause that also speaks to the recipient.

So she's trying to give gifts that are very meaningful to people on multiple layers.

Other people who are handy with crafts are making gifts for the holidays for some of their recipients.

And others, I noticed, are shopping for things on sale, just looking to cut costs that way.

She was really looking forward to some kind of return to normalcy this year in terms of business conditions.

I think the inflation that we've seen and the supply chain challenges have put her profits under pressure in a very unanticipated way.

One thing that she kept mentioning to me is that she's trying very hard to reinvest all of the profits in the business so she can, you know,

maximize the growth potential.

And having her profits under pressure has made that much more difficult.

So she has plans, including like a website redesign, which isn't cheap.

And she's really hoping that she's going to be able to take action on that next year.

They're both professionals and they both, you know, seem to make a decent income and certainly combined.

And they experienced some difficulties during 2020 when one of the spouses, who's a medical doctor, had to reduce the volume of patients that she saw due to COVID related lockdowns.

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