Despite Economy, Retailers Predict Good Holiday For Stores
BALTIMORE (WJZ) -- There are 10 shopping days left until Christmas. While you may be behind or ahead of schedule, things are looking even more holly and jolly for retailers.
Kai Jackson explains why things are looking even brighter this year.
If the National Retail Federation data holds up, some business owners could be in the black at the end of the holiday season--even while many Americans are still looking for jobs.
Crowded malls and bags in hand are signs of shopping. Christmas is barely a week away and even before the last receipt is counted, it appears retailers may have reason to smile.
"We've expected a great holiday season and it's even better than anticipated," said Pandora manager Angela Schultz.
The National Retail Federation originally predicted holiday sales would teeter around 2.3 percent this year. Now the organization that advocates for retail businesses is more optimistic, increasing that estimate to 3.3 percent.
"Even though we're in a recession, as they say, shopping's been on an uprise," said Robin Brown.
While there's a big focus on holiday spending, many remind retailers they can't spend what they don't have.
"We're doing OK. I mean, we are, we're spending, but we've cut it back," said Kevin McLaughlin.
Cyber Monday helped boost holiday sales this year. The National Retail Federation estimated that 96.5 million Americans shopped online the Monday after Thanksgiving, even though across the country, many Americans are out of work.
"We definitely have hired lots of help to help better serve our customers," Schultz said.
The National Retail Federation says stock market gains, income growth and savings are contributing to improved holiday sales.
