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Related: About this forumU.S. retailers likely to just meet holiday sales forecasts: experts
Source: Reuters
U.S. retailers likely to just meet holiday sales forecasts: experts
BY NANDITA BOSE
CHICAGO Wed Dec 24, 2014 3:34pm EST
(Reuters) - U.S. consumers have not turned out in force for the final shopping days before Christmas, suggesting that traditional retailers will just meet industry sales forecasts in a season marked by deep discounts and growing encroachment from online rivals led by Amazon.com Inc (AMZN.O).
Super Saturday - the last pre-Christmas Saturday, which fell on Dec. 20 this year - failed to make up for spotty performance this season. That included a disappointing Black Friday, the day after the U.S. Thanksgiving holiday that is typically one of the busiest shopping days of the year.
"The past weekend will not save this holiday season," said Craig Johnson, president of the retail and consumer product-oriented private equity fund Customer Growth Partners. "But combined with online sales, it would certainly save the year from being a dismal one."
Johnson said if sales hold up in the next few days and the week after Christmas, retailers may finish close to his company's November and December forecast of 3.4 percent growth in store and online sales. He estimates that Super Saturday weekend sales, which include store and online, rose 2.5 percent to $42 billion this year.
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BY NANDITA BOSE
CHICAGO Wed Dec 24, 2014 3:34pm EST
(Reuters) - U.S. consumers have not turned out in force for the final shopping days before Christmas, suggesting that traditional retailers will just meet industry sales forecasts in a season marked by deep discounts and growing encroachment from online rivals led by Amazon.com Inc (AMZN.O).
Super Saturday - the last pre-Christmas Saturday, which fell on Dec. 20 this year - failed to make up for spotty performance this season. That included a disappointing Black Friday, the day after the U.S. Thanksgiving holiday that is typically one of the busiest shopping days of the year.
"The past weekend will not save this holiday season," said Craig Johnson, president of the retail and consumer product-oriented private equity fund Customer Growth Partners. "But combined with online sales, it would certainly save the year from being a dismal one."
Johnson said if sales hold up in the next few days and the week after Christmas, retailers may finish close to his company's November and December forecast of 3.4 percent growth in store and online sales. He estimates that Super Saturday weekend sales, which include store and online, rose 2.5 percent to $42 billion this year.
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Read more: http://www.reuters.com/article/2014/12/24/us-usa-holidaysales-idUSKBN0K218A20141224
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U.S. retailers likely to just meet holiday sales forecasts: experts (Original Post)
Eugene
Dec 2014
OP
Warpy
(111,277 posts)1. When I went out for Chinese takeout
I noticed the Big Lots/Dollar Store lot was packed.
WalMart, across the street, was not.
You know the economy sucks when Wally's doesn't get the last minute crowd.
GeorgeGist
(25,321 posts)2. Dipshit headline.
Sherman A1
(38,958 posts)3. From what I understand
taking with a co-worker who has a second job at a UPS distribution facility, they have been busier than ever with full trucks from Target who apparently did a free shipping thing this year.
I would expect it to be an okay season as is indicated by the article, but things are shifting with the aging of the baby boom (who simply don't need anymore stuff), the prices of things, stagnate wages, the job market, online retailing and consumer attitudes.
These next 5 years will be very interesting.