Tis The Season- A Look At The 2007 Holiday Shopping Season
With gas prices soaring, the value of the dollar falling and the stock market concerns of consumers, as well as the ongoing credit crunch in the U.S., what impact will these and other factors have on the 2007 holiday shopping season?
According to the Commerce Department, retail sales last month (October 2007) posted the weakest showing since last August, with just a minuscule 0.2% increase, as consumers continue to struggle with the slumping housing market and tighter credit conditions.
According to a forecast by the National Retail Federation in September of 2007, they predicted that sales for the 2007 holiday season will rise to 474.5 billion dollars, which would represent a 4% increase over the previous year. But this holiday sales increase falls below the ten-year average of 4.8% and would represent the slowest holiday sales growth rate since 2002, when sales rose 1.3%
Additionally, eMarketer a trusted market research firm, expects that online holiday sales should exceed 30 billion dollars (excluding online travel), which would represent an 18.5% increase over 2006 figures. But this...
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