Gift for retailers
This Christmas, more retailers and shoppers are going to be humming the holiday tune Here Comes Santa Claus.
The National Retail Federation predicts that 2010 holiday retail sales will increase by 2.3 percent from last year, resulting in $447.1 billion in holiday sales.
This is slightly lower than the 10-year average holiday sales increase of 2.5 percent, but it’s an improvement from last year’s increase of 0.4 percent and the disastrous 3.9 percent decline in 2008, according to the National Retail Federation.
Many area retailers , including Best Buy, Target and Belk, also are predicting a bigger Christmas season this year.
“I think it will be a great holiday season, based on our traffic patterns,” said Steve Maxcy, the general manager of Best Buy on Walton Way Extension in Augusta.
Social Connections
ThNational Retail Federation told the Federal Reserve that the Fed’s plan to lower a 13-year-old cap on debit card “swipe” fees is welcome but a proposed change in methodology would leave the cap too high.
NRF: Fed’s proposed debit card ‘swipe’ fee cap too high
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