NO JOY FOR RETAILERS IN CONSUMERS’ SPENDING PLANS, ANNUAL CHRISTMAS SURVEY REVEALS
Britt Beemer's Bleak Christmas 2009 Forecast: Retail Sales Down Again to 2.9%.
Even Children Will Feel the Pinch, Beemer Says
Charleston, SC, Nov. 5, 2009.... American retailers hoping for some respite from last year's steep drop in sales during the crucial holiday shopping season will find no cheer this Christmas, according to the results of a Christmas shopping survey released today by America's Research Group (ARG) and UBS.
"Our annual Christmas shopping survey reveals that American consumers are under so much more financial pressure this year that even children will feel the pinch," says consumer trend expert C. Britt Beemer, CEO and Founder of ARG. Beemer predicts that retail sales will be negative 2.5% to 4.5% with the final figure down 2.9% compared to 2.7% down last year. Beemer's predictions have been accurate within a half of 1% over the past 17 of 18 holiday seasons.
Consumers will direct their Yuletide energies to getting bigger bargains and cutting down on the numbers of gifts they give. More parents will do without gifts this year so kids will have their gifts. An indication that children feel the pinch is that fewer have asked for a specific toy this year. As a result of the rush for bargains, Beemer says that "long lines will drive shoppers wild."
Based on the holiday survey results, Beemer noted the following warning signs of a bleak Christmas for retailers and for consumers alike:
America's Research Group, one of the nation's foremost consumer research and strategic marketing firms, marks its 30th anniversary in 2009. CEO Britt Beemer is a key resource and advisor to leading brands and top retailers. He is author of The Customer Rules, published by McGraw-Hill.
UBS Global Equity Research provides the broad global perspective and in-depth analysis that institutional investors need to make good investment decisions. With more than 600 analysts, associates, strategists and economists in EMEA, APAC and the Americas, UBS covers approximately 85% of the world market capitalization - over 3,300 companies worldwide across 46 different markets. In addition to UBS's disciplined fundamental research, clients also rely on UBS for corporate and expert access to give them the insight they need, when they need it.