U.S. 2009 holiday sales seen up 1-2 pct – ICSC
San Francisco, CA – The 2009 U.S. holiday season is likely to be “a lot better” than last year, with sales rising about 1 percent to 2 percent, according to research from the International Council of Shopping Centers.
The forecast, which came in a report posted on the group’s website, includes some of the most bullish comments yet on the prospects for the upcoming holiday season.
“One might imagine that it would take a miracle on 34th Street — and Main Street — for retailers to have a successful 2009 holiday season,” the ICSC stated in its report. “However, that outcome — even without a miracle — is not far fetched.”
Retailers will experience their first non-recession holiday season in three years, and the “wear and tear” of the recession on the consumer psyche is giving way to renewed hope, optimism and possibly gift buying, the group stated.
In providing its forecast, the ICSC said that holiday sales “in its many forms” — either same-store sales or total sales — could rise by about 1 percent to 2 percent.
The ICSC expects same-store sales, or sales at stores open at least a year, for the “traditional” holiday shopping season of November and December to rise 1 percent. Same-store sales for the “new” holiday season of November though January are expected to rise 1.5 percent, it said.
