Retail Surveys

Save E-mail Print Most Popular RSS Reprints

Study: Holiday shopping season not looking merry

Deloitte forecasts flat 2009 holiday sales, though better than last year's decline

September 22, 2009

Holiday shopping lists might not be very long this year. According to a forecast released by Deloitte on Monday, retailers will need to prepare for flat holiday sales this year as consumers continue to save and try to cut costs.

Deloitte's Retail Group expects a zero percent change in 2009 holiday sales compared with last year, with a total of $810 billion (retail sales during the 2008-2009 holiday season totaled $809 billion). This excludes motor vehicles and gasoline.

While a flat holiday season is not great news for retailers, it would be an improvement over last year's decrease in sales of 2.4 percent. According to Deloitte, the first such decline seen on U.S. Commerce Department data dates back to 1967.

"Although there are signs that suggest the economy is nearing the end of its darkest days, many consumers remain burdened by restricted credit availability, high unemployment and foreclosures," said Carl Steidtmann, chief economist with Deloitte Research, in a statement. "Americans continue to save at historically high rates while also paying down debt, and these factors combined suggest another chilly holiday season for retailers."

However, Steidtmann believes the numbers might improve if other economic indicators, such as home prices and stocks prices, move up, with gas prices remaining stable.

These numbers are consistent with what retailers have been preparing for, adjusting inventory and reporting a cautious approach in their hiring for the holiday season.

Despite the lukewarm sales forecast, many opportunities remain for targeting digital shoppers through a variety of mediums, according to the study.

"Retailers that can harness the power of technology likely have a better chance of engaging those consumers who are willing to spend," said Stacy Janiak, vice chairman and U.S. retail leader for Deloitte LLP, in a statement. "The proliferation of mobile applications and social networks may yield new opportunities to pursue targeted advertising, build brand loyalty and measure campaign effectiveness."
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

More Retail Surveys

JCOC: 11 percent to purchase jewelry this holiday

Paso Robles, Calif.--Eleven percent of Jewelry Consumer Opinion Council (JCOC) panel members plan to purchase fine jewelry or watches as a gift this holiday season, with 82 percent of this group believing they are either somewhat or extremely likely to do so, according to the JCOC's Pre Holiday study. Read More

Survey: Fewer holiday shoppers to rely on credit
Survey: Jewelers rate tops in customer service
Don't count on Grandma this Christmas
Survey: How are your custom jewelry sales?
More Retail Surveys

More Like This

Design Portfolio

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Sponsored by:

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement