Nearly every forecast on retail spending for the current holiday season is negative. Consumers routinely say they are going to spend less and the recently released numbers for October's retail sales certainly support the claims. But a review of specific spending plans points to a few bright spots and the potential for increased marketing. Britt Beemer of America's Research Group reports that nearly half of parents will try to spend a ‘normal' amount on Christmas presents for their children.
Here are a few other trends Beemer's research has revealed:
- The shopping season will be later than usual this year as consumers wait for bargains.
- At least half of consumers will be scanning newspaper inserts in their search for reduced prices.
- Stand-alone stores may see more business than mall-based stores.
Share this data with your locally-owned toy retailers and remind them that a great ad campaign run in early December could bring traffic through their doors.[Source: Bleak Christmas 2008 Forecast, America's Research Group, 11.12.08]