Albany, N.Y. – The parking lots have been crowded and the stores abuzz, but retailers are still counting on last minute shoppers to help them make their holiday sales goals. Nearly half of merchants surveyed this week by the Retail Council of New York State indicate that more than 30 percent of their seasonal business has yet to occur.
Retailers throughout the state reported the results through the Retail Council’s annual “Holiday Sales Watch,” a periodic snapshot of sales activity in stores small and large. This second Holiday Sales Watch was conducted Dec. 11-12 and gauged retailers’ perception of sales activity since Black Friday weekend. It also captured participants’ expectations for the week before and after Christmas.
Despite sensing that they have a lot of ground to cover in just over a week, merchants are generally happy with the sales activity in their stores since Black Friday weekend. Fifty-nine percent of surveyed merchants indicate that they were pleased with their sales, while 62 percent described their sales as better than or the same as their sales in 2005 for the same period of time.
“Retailers aren’t panicking with the approach of Christmas,” said Retail Council President and Chief Executive Officer James R. Sherin. “They have grown accustomed to the last-minute frenzy as shoppers hit the stores hard to finish off their lists. Anymore, it’s the week before and after Christmas that really determines the success of the holiday season for retailers.”
Although counting on a last minute shopping surge, surveyed merchants aren’t planning to go discount crazy. While 44 percent of survey participants have a sale in the works for before Christmas, 56 percent reported that they don’t intend to discount.
“Although many merchants are telling us they will be cautious with the sale signs, others will be discounting heavily in an effort to drive traffic their way. Consumers will still find plenty of bargains when they wrap up their shopping,” Mr. Sherin said.
Retailers may be counting on last minute shoppers, but they’re also hopeful that after-Christmas sales will help them end 2006 on a good note. Nearly 60 percent of surveyed merchants said that after-Christmas shopping will play a role in the success of their holiday season. Many participants noted that they anticipate a late pre-Christmas rush for gift cards/certificates, which promises a Dec. 26 bonanza for merchants. With the weather anything but frightful around much of the state, retailers generally reported that the sale of cold weather apparel (coats, gloves, hats, sweaters) has suffered. According to participating merchants, consumer electronics (flat screen televisions, video games, digital cameras, etc.) continue to be the top-sellers this holiday season.
Hot Sellers for the Survey Period
Nov. 27-Dec. 12, 2006
For Girls: Barbie, Bratz, TMX Elmo, Dora the Explorer, Disney Princess, I-Pod/MP3 players, Nintendo DC, PlayStation 3, The Little Mermaid
For Boys: TMX Elmo, Cars (generic), PlayStation 3, other video games, Legos, Nintendo DS, Hot Wheels, XBOX 360, remote controlled cars and trucks
For Adults: Home electronics (TVs, portable DVD players, I-Pods, digital cameras), apparel, accessories, jewelry (especially layered necklaces for women), books, CDs, DVDs, gift cards
About the Retail Council of New York State: The “Voice of Retailing” in New York state, the Retail Council represents thousands of member stores of all size and variety. The Retail Council offers money-saving group benefit programs and government relations expertise to its members. For more information, please visit www.retailcouncilnys.com.
