Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Save to My Library
Look up keyword
Like this
1Activity
0 of .
Results for:
No results containing your search query
P. 1
OCBJ Holiday Shopping

OCBJ Holiday Shopping

Ratings: (0)|Views: 0 |Likes:
Published by SherriLCruz

More info:

Published by: SherriLCruz on Feb 01, 2013
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less

08/20/2014

pdf

text

original

 
Holiday RecoveryShopping Season Expected To Be Best in YearsSHERRI CRUZSunday, October 24, 2010As malls and stores start to deck the halls, retailers see reason to cheer this holiday season.“Traffic is up, sales are up and we’re feeling good about the holidays andwhere we sit today,” said Nina Robinson, vice president of marketingand communications for Irvine Company’s shopping centers, whichinclude Newport Beach’s Fashion Island, Irvine Spectrum Center andThe Market Place, which straddles Irvine and Tustin. “We expectholiday gift giving will be brisk.”Mall operators and retailers likely are the most upbeat they’ve been intwo years amid signs of economic improvement, including a better thanexpected back-to-school shopping season that wrapped up in September. National surveys project a 2% to 3.5% rise in holiday sales this yeafrom 2009. The projected uptick is moderate. But it’s the first anticipatedsales increase since the downturn took hold in earnest in late 2008.The holiday shopping season kicks off on Black Friday, the day after Thanksgiving, and runs through December or January, depending onwho’s counting.Shoppers have become accustomed to the slow recovery, according toGreg Palme, an audit partner for the retail sector for New York-basedDeloitte LLP’s Costa Mesa office.They’re less anxious about spending, he said.“As long as the consumer doesn’t get surprised, they’ll spend more,”
 
Palme said.A surprise, according to Palme, would be a dramatic economic shift,such as a jump in unemployment or a big drop on Wall Street.Surveys portray a jollier shopper this year.Shoppers are expected to spend an average of $689 this year, up from$681 last year, according to the latest holiday survey from theWashington, D.C.-based National Retail Federation.Giving jewelry is expected to make a comeback, the survey found.Giving more expensive gifts—instead of more practical, needed items— signals shoppers are more comfortable with their finances, according toretail watchers.But the mindset of the downturn still holds sway for many. Holidayspending this year is predicted to be well below 2007, when shoppersspent an average of $755.Shoppers are “in a buying mood, but they’re also going to buy smart,”Robinson said. “They’re looking for value, regardless of how muchmoney they have.”Late DealsHoliday shopping could look a lot like the back-to-school season, withretailers drawing the bulk of their sales at the end.“There was a slow (back-to-school) start, which was concerning,”Deloitte’s Palme said. “But retailers responded with good discounting.They gave consumers a reason to shop, which gave way to a late surge.”
 
 National back-to-school sales increased a more-than-expected 0.6% inSeptember from a year earlier, following a gain in August as well.As with back-to-school, retailers are expected to hold back on holidaysales and other promotions and then cut prices later if needed.“We could see the heavy promotions toward the end of the holidayseason,” Palme said.Discount retailers, such as Target Corp. and Wal-Mart Stores Inc., areexpected to be popular again this year. But shopping is expected at awider variety of stores than in the past two years.Luxury sales, tepid since 2008, could see an uptick.“The high and the low are performing well,” Irvine Co.’s Robinson said.Fashion Island, which caters to upscale shoppers, is set to finish a $100million renovation in time for the holidays.The Block at Orange, which includes discount and outlet stores, isexpecting to do better this year, said Shannon Feightner, the mall’smarketing director.“We are definitely expecting another strong holiday season,” Feightner said.‘Pop-Up’ Stores“Pop-up” stores, or shops that grab vacant space for a short period of time, are expected at malls across the county.Pop-ups are a growing trend, given retail space that opened up in thedownturn, Palme said.

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->