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Posts Tagged ‘retailers

If you have specific gifts on your holiday list this year, you may want to get a jump start on your shopping, according to industry research firm IBISWorld. 

“Consumers have become accustomed to sales and deep discounts during the past year, but retailers have low inventory levels this season and will try to keep prices high,” said van Beeck. “Shoppers will need to purchase before the stores run out if they have specific items on their gift lists.”

Yet, if retailers try to avoid discounting key goods for too long, it could spell disaster. People do not have the disposable income and will look elsewhere for their gifts, making the competition fierce and pricing crucial this year.

Total retail sales on the traditional Black Friday weekend are expected to increase 2.8 percent from last year, totalling $42.9 billion. With 76.9 million people estimated to swarm into retail stores on Black Friday alone, shoppers are expected to take advantage of this day to ensure they get all the items on their gift lists.

Photo by petr0

Photo by petr0

Despite the economic downturn and retail sales plummeting, this Father ’s Day it looks like dads are going from handyman to dandyman, as sales of pampering services and related products are expected to increase 35.7 percent, according to industry research firm IBISWorld

Although pampering services only accounts for a small portion of total Father’s Day spending on the nation’s 66.3 million dads as reported by the U.S. Census Bureau, pampering is emerging as this holiday’s fastest growing gift category with consumers expected to spend $190 million compared to $140 million in 2008.

“Traditional Father’s Day gifts, such as tools and electronics are declining this year while spa services, personal care products, and greeting cards are increasing,” explained Toon van Beeck, senior analyst with IBISWorld.  “It seems that ‘New Age’ dads are this year’s fad.”   Mr. van Beeck added, “According the U.S. Census Bureau, there are an estimated 66.3 million fathers in the nation today which demonstrates the impact spending on Father’s Day has on the U.S. economy.”

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