Article Archive for October 2009
The National Retail Federation, a trade group, pushed back its annual holiday forecast because the volatile economy is making it tough to predict consumer behavior. The forecast is scheduled for release Tuesday and predicts retail sales dropping 1 percent, to $437.6 billion, in November and December. Though the figure is far from the industry’s 10-year average of more than 3 percent growth, it is an improvement from last year’s 3.4 percent drop.
A trip through the mall tells the story: The recession of the past two years has devastated the retail industry, as overspent consumers have put away their credit cards, started paying off years of debt, and put the kibosh on shopping.
Limited Brands Inc. and American Eagle Outfitters Inc. reported September sales results that topped analysts’ estimates as shoppers took advantage of back-to-school discounts, and cooler weather spurred spending.
When consumers start their holiday shopping in earnest next month, they will find fewer stores competing for their business as vacancy rates at malls and shopping centers have risen to multiyear highs.
Please join us for an Urban Chic Fashion Show to benefit the American Visionary Art Museum (AVAM) whose all new-exhibition, “LIFE, LIBERTY & THE PURSUIT OF HAPPINESS” celebrates the best of individual expression.
Retailers hope embracing holiday traditions from cozier times will tempt recession-weary consumers to open their wallets in a season expected to show flat sales at best.
When it comes to Halloween costumes, vampires, princesses, police officers and pirates are in, while politicians, nurses and Batman are out.
