by Christina Lee on March 4th, 2009
This St. Patrick’s Day, retailers are less likely to spot green on consumers, whether they are wearing or carrying it, according to a National Retail Federation survey released yesterday.
As fewer consumers decide to participate, so do their total expected spending. This year, 44.1 percent of U.S. consumers plan to spend $3.29 billion on St. Patrick’s Day. Both figures show a slight decline in both participation and spending from last year, when 46.0 percent of consumers said they planned to spend $3.64 billion to celebrate.
The notable decline in spending derives from everyone – even the biggest holiday spenders, young... Read more »
by Christina Lee on February 5th, 2009
Recent studies from the National Retail Federation have announced the return of the conscious consumer, after it adjusted 2008 forecasts in September due to the down economy.
The trade group forecasts for 2009 an overall 0.5 percent decline in retail sales, according to a statement released last Tuesday.
“Most of the consumer behavior we saw in 2008 will continue well into this year,” said Rosalind Wells, chief economist.
By that, the trade group means that retailers may see a 2.5 percent decline during the first half. They may then experience an overall 3.6 percent rise in the fourth quarter, arriving... Read more »
by Christina Lee on January 30th, 2009
Consumers are planning for another low-key Valentine’s Day this year, as they plan to spend an average of $20 less than they did in 2008.
Total spending may also reach up to $14.7 billion this year, compared to $17.02 billion last year, according to the National Retail Federation.
Last year, consumers spent slightly less money on traditional gifts than in years past, opting instead for a night out. But now, with the current economy in mind, these couples simply just want to save, as president and CEO Tracy Mullin realized.
“A bad economy won’t stop Cupid this Valentine’s Day, but... Read more »