Christmas or Christmas Day is a holiday observed generally on December 25 to commemorate the birth of Jesus, the central figure of Christianity. The date is not known to be the actual birthday of Jesus, and may have initially been chosen to correspond with either the day exactly nine months after some early Christians believed Jesus had been conceived, the date of the winter solstice on the ancient Roman calendar, or one of various ancient winter festivals. Christmas is central to the Christmas and holiday season, and in Christianity marks the beginning of the larger season of Christmastide, which lasts twelve days.
Although nominally a Christian holiday, Christmas is also widely celebrated by many non-Christians, and many of its popular celebratory customs have pre-Christian or secular themes and origins. Popular modern customs of the holiday include gift-giving, music, an exchange of greeting cards, church celebrations, a special meal, and the display of various decorations; including Christmas trees, lights, garlands, mistletoe, nativity scenes, and holly. In addition, several similar mythological figures, known as Saint Nicholas, Father Christmas and Santa Claus among other names, are associated with bringing gifts to children during the Christmas season.
Because gift-giving and many other aspects of the Christmas festival involve heightened economic activity among both Christians and non-Christians, the holiday has become a significant event and a key sales period for retailers and businesses. The economic impact of Christmas is a factor that has grown steadily over the past few centuries in many regions of the world.
Economics
Christmas is typically the largest annual economic stimulus for many nations around the world. Sales increase dramatically in almost all retail areas and shops introduce new products as people purchase gifts, decorations, and supplies. In the U.S., the "Christmas shopping season" starts as early as October . In Canada, merchants begin advertising campaigns just before Halloween (October 31), and step up their marketing following Remembrance Day on November 11. In the United States, it has been calculated that a quarter of all personal spending takes place during the Christmas/holiday shopping season. Figures from the U.S. Census Bureau reveal that expenditure in department stores nationwide rose from $20.8 billion in November 2004 to $31.9 billion in December 2004, an increase of 54 percent. In other sectors, the pre-Christmas increase in spending was even greater, there being a November – December buying surge of 100 percent in bookstores and 170 percent in jewelry stores. In the same year employment in American retail stores rose from 1.6 million to 1.8 million in the two months leading up to Christmas. Industries completely dependent on Christmas include Christmas cards, of which 1.9 billion are sent in the United States each year, and live Christmas Trees, of which 20.8 million were cut in the USA in 2002.
In most Western nations, Christmas Day is the least active day of the year for business and commerce; almost all retail, commercial and institutional businesses are closed, and almost all industries cease activity (more than any other day of the year). In England and Wales, the Christmas Day (Trading) Act 2004 prevents all large shops from trading on Christmas Day. Scotland is currently planning similar legislation. Film studios release many high-budget movies during the holiday season, including Christmas films, fantasy movies or high-tone dramas with high production values.
One economist's analysis calculates that, despite increased overall spending, Christmas is a deadweight loss under orthodox microeconomic theory, because of the effect of gift-giving. This loss is calculated as the difference between what the gift giver spent on the item and what the gift receiver would have paid for the item. It is estimated that in 2001, Christmas resulted in a $4 billion deadweight loss in the U.S. alone. Because of complicating factors, this analysis is sometimes used to discuss possible flaws in current microeconomic theory. Other deadweight losses include the effects of Christmas on the environment and the fact that material gifts are often perceived as white elephants, imposing cost for upkeep and storage and contributing to clutter.
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