Retailers Are Optimistic About Christmas Shopping Season
Survey Indicates Continued Strength in Consumer Spending
Vancouver (November 20th 2006)– A strong economy and new residential areas are fueling optimism for retail store owners and managers. In a current survey conducted by Retail BC and Zata, retailers have indicated that they are looking forward to another banner year as consumers gear up for a season of generous giving.
"Optimism surrounding the positive retail spending trend that began in 2002 continues to gain momentum this Christmas" says Mark Startup, President and CEO of Retail BC. According to the survey, 91% of respondents have indicated that they are expecting sales to either remain the same or increase this holiday shopping season.
Startup explains that "in light of our strong provincial economy and increased consumer confidence, retailers are even more positive about the upcoming season than they were last year." 65% of respondents indicated that they were expecting an increase in sales for their stores this Christmas season.
He also noted that the optimism is carrying through into 2007, with 9 out of 10 of respondents indicating that they are anticipating retail sales to at least remain the same or even increase throughout 2007.
There is a distinct change compared to last years’ research. Last years’ survey found that only 44% of respondents anticipated an increase in overall Christmas season spending. This year, that number has risen to 60%. In short – while confidence was high in 2005, this year retailers are decidedly optimistic. And rightly so. BC’s retail industry has been generating record sales this year with no slow down in sight.
As well, retailers are predicting growth in their Internet based business. Nearly 16% of retailers anticipate using the internet to generate more than 5% of their sales. This is up from 13% in 2005.
Popular gifts for the season include electronics, jewelry, clothing and home décor items. With all of the positive momentum this year, consumers should be planning their last 54 shopping days accordingly!
Retail BC is the voice of over 3,000 retail companies within British Columbia. BC’s retail industry generates over $50 billion in sales and employs over 250,000 British Columbians.
Zata provides sales benchmarking and survey information as a service of Retail BC. Participating retailers can gauge their sales strength every week through Zata.
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For further information, contact:
Mark Startup
T: 604-730-5252