Economy slows many New Year's plans - WMC Action News 5 - Memphis, Tennessee

Reported by Anna Marie Hartman

Economy slows many New Year's plans

MEMPHIS, TN (WMC-TV) - Many Mid-Southerners spent the Wednesday preparing for a quieter New Year's Eve than normal, thanks to the economy.

However, there were no signs of a recession at Buster's Wine and Liquor Store.  There, on the eve of a new year, business was booming.

Some of the shoppers we spoke to, like Memphian Candace Woods, said they were changing the way they would party this year.

"All the parties are BYOB," Woods said. "I think everybody's cutting back."

"Normally we would probably travel to my parents or to my girlfriend's parents, but we've got to stay home cause we just don't have the money this year," shopper Justin Read added.

In fact, according to Buster's general manager Josh Hammond, at-home parties are a popular trend.  But staying home doesn't mandate staying sober. 

"The tendency is when you're at home you can have a drink or two extra, and not have to worry about the drive home, so to speak," Hammond said.

United Liquor Corp's John Gatti said people are buying less expensive alcohol this year, but are buying more of it.  Customer counts at Buster's have been through the roof.

"They may be spending a little less money than they did versus last year, but they're still entertaining," Gatti said.

Revelers are hoping for the best in 2009, and are toasting to a new and hopefully more prosperous year.


Click here to send an email to Anna Marie Hartman.

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