ultimately you know one of the reason that united was losing money when they started doing this is simply because other airlines weren't doing it also so when they matched the price of american airlines or a south west american and southwest offered a better value product american hadn't begun their base your economy initiative yet so they're bet is that now that american is offering your connally fares also they will be losing money but consumers do have a chip doesn't offer these fares neither does jet blue or alaska so when one of those carriers days because it was really clear of seat not the other benefits southwest you know southwest and it's a real opportunity on the west coast for alaska virgin america and that combination as they continue to merge to frankly offer a better product than the largest carriers and hopefully one consumer business well some people might say look a better product would be more space in the cabin and if you want to charge me for you know charge me a higher price to check a bag that's fine but a nine hour flight hertz and the airlines it's getting tighter and tighter and

tighter we've talked about it before on the show do you see that may be changing. well it's certainly the case so you know american airlines has said they're going to offer only thirty inch pitch in their new seven thirty seven max aircraft that's the distance from seat back to seat back and it's less than the current thirty one that they they and delta offer an economy and that's less than the thirty two that you're going to generally get on southwest so the seats are certainly closer together united just made clear that on their boeing triple seven they're going to join much of the rest of the world and have instead of nine seats across the cabin we're going to have ten seats like american does today so it is kill the case that airlines are doing what they call densification which really just means more seats in the same amount of space and by the way they also squeeze in seats not just by shoving them closer together but even by reducing the size of the lavatory so many

inputs now in just planning your vacation it doesn't even matter if you're just bringing a backpack thank you so much for helping us out on those we got to bring you on again to talk about this growing problem in the united states gary left chairman and c.e.o. of miles and points consulting and the founder of you from the wing dot com thank you thanks lindsey. the internet has disrupted just about every industry but it significantly changed the way we shop our chief correspondent trinity child has has more on that from new york brick and mortar stores are closing out an epic pace putting the retail business at risk for the most store closures this year than ever before leaving many wondering what the future of shopping looks like. advancements in technology have made it easier for brands and customers to analyze and share information which is changing the retail landscape drastically but with the rise of the supersized each tailors like amazon and e bay more and more brick and mortar stores are having trouble competing so i think

that their role is definitely changing right so it's not it's no longer sort of the of a constraint that where people have to shop right because almost anything as i. online now according to funk lobel retail and tech a total of nine thousand four hundred fifty two stores will be closed this year because the shift to online retail and other retail bankruptcies that beats out the previous all time high of six thousand one hundred sixty three stores closing during the financial crisis in two thousand and eight it's just easier to go ahead and. find what you want online from the stores that you like and order it and get it sent to your door rather than going in trying stuff on the side and have time it's easy to go through different options and choices and prices in places online obviously from my couch or desk and many say that amazon has been the force behind the explosion of online shopping and according to forbes is now the third largest retailer in the world. yet wal-mart still holds the number one spot last year

wal-mart's sales totaled in at four hundred eighty three billion dollars compared to amazon's one hundred thirty six billion but well wal-mart's online revenue summed up to a whopping fifteen billion dollars amazon was a staggering ninety billion but with the holidays just around the corner retailers are doing all they can to capture every dollar. whether it's customers walking through the door. or customer clicking on their website for example many stores are listing lower prices in store for some online products to drive traffic into the going to a store for that but it's like you know random thing it's not a thing that's landlord. keeping prices down and up to the name of. global harmony and this is i think what we're can expect in the next two years because the u.s. is the world's biggest debtor china's the world's biggest creditor so you put those two together you have the biggest creditor taking some of the u.s. debt like cars like government guaranteed fannie mae freddie back all the people who love borrowing money on those games they've got chinese landmarks. that's so

long. that. she'll be a. student that's been my love for most. of those will be just like they took with. me to day. it was to settle my lemon who speculate him to me or the now we. go to the room. now at the. thought that never. see life in primitive what we have it would be in the marrow have been floating closer geared up because of me it's because he sees when i lived .

between free shipping and major sales there's a lot of ways we justify spending the money we make but how do marketing tactics get to us so easily to talk more about this we spoke with dan ariely author of

dollars and cents how we missed think money and how to spend smarter in his book he mentions how j.c. penney once attempted fair and square pricing which didn't. work out so well cost in the retailer almost one billion dollars and then tells lindsay why take a look what happened is we have to think about how do people assess value how do we decide what something is is worth and the reality is it's very hard it's very hard to look at that a piece of clothes and say how much is this is worth so what do we do we look at relative value relative to what relative to past prices so if something used to be to cost one hundred twenty dollars and it's now seventy it looks like it's great a great deal if you just seventy what do we compare it to not very clear so j.c. penney for a long time had this relative comparison everything had a high starting point in the low discounted price and people are said to themselves not in an explicit way this is amazing value let's get it once give you quarters

but if i run all this distance for you how do you feel about giving me a dollar now you feel very happy giving me a dollar now in every possible way you're worse off you have to wait for a few minutes you get sweaty coins but why are you happier things small and should i say the shipping is free the thing itself is five dollars in the second case i say they each are two fifty in the third one they say the thing is free shipping is five dollars in all three cases the final payment is the same people feel very differently about those things the worst one is the one in which we don't get free at all we pay two fifty for shipping pushes a hot button for us like an emotional gap and we say if it's rick to fix it because the only thing you can do or one thing you can do is to ask yourself how would they behave toward this offer if it wasn't free if it was let's say twenty five cents and if you basically see that you would have behaved differently you say i have to

drive all the way across town to get this free whatever if it was twenty five cents with a drive all that way and if you set yourself no. i would do it for twenty five cents then don't even do it if it's free well sort of ascending versus spending versus saving you quote ralph waldo emerson money often costs too much saving versus spending a misconception people have when it comes to that you have some pretty interesting explanations and your buck. well first of all we have to recognize that saving is very tough saving is about novices later it's about abstract versus concrete everything you have right now is concrete and it's now everything in the future is later and what exactly are you getting if i want a new bicycle now it's know if i'm saving five hundred dollars more for retirement what exactly am i getting and we need to recognize that those trade offs are novices later are things we don't do well in general we don't eat too well we don't

exercise i mean there's lots of things about novices later that we fail on and if we need want to do better on those things we need to create rules for a one k. automatically reaction personal rules otherwise if we're going to have to face the decision every time will fail not every time but will fail way too often to pay yourself first of all it sounds like good old fashioned self-control something that's kind of hard to find right now if you watch grave but great read dan ariely professor and author of dollars and cents how we missed think money and how to spend it smarter. for the holidays were inundated with trend forecasts for retailers all over the world to learn about that is that c.e.o.'s and bell which is like a preview of the annual consumer electronics show take a look at what holland cook most of the big picture learned when he attended the exhibit in new york. beginning to look a lot like christmas in new york where we got the big download yesterday from the

consumer technology association who every year at this time releases research on the big holiday spend which is about a third of all the usa tech spend this is a two hundred ninety two b. billion dollar industry just in the states and one hundred seventy million of us are going to drop ninety six point eight b. billion stuff under the tree the batteries did not come included with. every parent's worst nightmare yeah absolutely starting stuff about a battery that's actually a very good idea. what it can just ask men versus women it is spending one on one is not a false stereotype because how much never and let's just be on it depends on who you are that will spend more than women if you have kids you'll spend even more and if you're an early adopter the c.t.a. research shows you go up a notch and they're going to be buying drones and alexa like crazy and the

demographic sweet spot for this industry is thirty five to fifty four so that's who's big on tech this year ok so it's people who were using tack i would say you know before it became sort of this millennia old thing so a couple decades before on into the people who started using it in college so people have got a longer time span with it and they're more comfortable with it now which mainstream think about you left your full ten years ago we probably wouldn't be already house yeah no you're absolutely not going to go get a carriage and television now and we're buying online like crazy lloyd estimates eighteen to twenty one percent even more than last year which was huge increasingly on a smartphone and i thought one of the data points that just jumped off the power point yesterday at this briefing was that people are now asking aleck so where the door buster specials are that's scary because while alexa can find your stuff online but then they're asking her if they actually want to go outside their front door and

increasingly shoppers are as we say on our to america questioning. because same day delivery is huge and they want to know the return policy and you're better off for free returns and free shipping it was just better what if you noticed about black friday itself with regards to staffing up and hours because some people are doing this hey after you finish turkey dinner i know skip turkey dinner come shopping and other people are saying. no we're going on it's just wrong you know wal-mart the country's biggest retailer is going to open it a minute after midnight thanksgiving morning and you know that there's going to be people all bundled up in lawn chairs you know that it's a happening and then they're going to trample each other when the doors open but america's biggest mall the mall of america is being minnesota nice they're not going to open on the holiday so it's kind of like chick fil a being closed on sunday they're making a statement only took place i was making a statement i don't know what your opinion on the old school versus the new school

of black friday shopping approaches i ask everybody that's do you think we should keep it traditional and keep the employees home shut the door they'll come in the next morning i buy a stack of whatever i think the thoughtful book is for half a dozen friends and clients but i still want to go to the mall yeah still want to feel the hustle and holiday bustle and all go in to get diverse and get a stack of those for appropriate people because i would feel as though i missed it if i didn't go shopping it's an event it really is thank you so much for input on this holland house a big picture and. that's all for now be sure to catch boom bust on directv on the our t.v. channel one and if you miss that's on directv catch us on you tube at youtube dot com slash boom bust our team thanks for watching the next time.

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