Holiday spending expected to rise; Ariz. retailers optimistic - Ahwatukee Foothills News: Money

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

Holiday spending expected to rise; Ariz. retailers optimistic

Print
Font Size:
Default font size
Larger font size

Related Stories

Posted: Tuesday, November 27, 2012 10:49 am

Holiday spending is expected to increase by 3.5 to 4 percent this year, as a rising number of consumers plan to spend more and fewer expect to pull back, according to a new national survey.

The survey by the Consumer Federation of America and the Credit Union National Association, released in advance of the biggest shopping day of the year, said consumer confidence is stronger than it has been in some years.

“People, apparently, are more prepared to spend because they see a somewhat brighter economic future,” said Stephen Brobeck, executive director of the consumer federation.

“Since 2007, the percentage of those planning to increase their holiday spending has never been higher, and the percentage of those planning to reduce their spending has never been lower,” Brobeck said Nov. 21 at the release of the groups’ 13th annual shopping outlook.

Bill Hampel, chief economist at the credit union association, said the outlook is stronger than it has been in the last four years.

“It still doesn’t suggest a booming holiday season, but a continued improvement from the last two years,” Hampel said.

He said spending is expected to be “strongest in the South and weakest in the West.”

But economists and retailers in Arizona said they are looking forward to strong holiday sales, with increases at least as great as the national average, if not more.

“My prediction would be more in the 5 percent range,” said Dennis Hoffman, director of the L. William Seidman Research Institute at Arizona State University’s W.P. Carey School of Business.

Given the national numbers, Hoffman said his projections might be a little optimistic, but that the evidence he has seen so far suggests a strong season.

“I have been seeing retail growth in the 4 to 5 to 6 percent range for a reasonable amount of time,” said Hoffman, who is tracking tax receipts daily to monitor consumer spending.

Optimistic or not, Hoffman’s prediction was echoed last week by the executive director of the Arizona Retailers Association.

“There may even be a 4 to 5 percent increase in consumer spending this year,” said Michelle Ahlmer, the association director.

She said the holiday season is always good for retail, but the increased spending this year likely reflects an economy that is rebounding.

And Ahlmer said Arizona has another asset that other Western states might not enjoy.

“The one advantage here — we have absolutely wonderful weather,” she said. “We get a lot of visitors during the holiday season and our sales are always higher.”

Hoffman agreed that the “left (coast) being weak doesn’t mean Arizona is weak.” He conceded that the sales may have weakened for the fall because of uncertainty about the elections and the impending fiscal cliff, but it is not a sign of another recession.

“Five percent might be overly optimistic, but it may not be as low as 4 percent,” Hoffman said.

At Changing Hands Bookstore in Tempe, owner Gayle Shanks was just as optimistic.

“I expect consumers to be spending more money this holiday,” Shanks said. “Cash registers will be ringing in our store.”

Shanks, who opened her bookstore in 1974, looks to each holiday season with excitement, both for the increase in sales and the chance to see winter customers who “return year after year.”

“Even in down years, we did better during the holiday season,” Shanks said.

The report, “Holiday Spending 2012,” is based on a Nov. 9-13 telephone survey of 1,012 people who were asked whether they intended to spend more, about the same, or less than last year. It also asked for their concern over debt, credit card payments and other questions.

Nationally, 12 percent said they expected to spend more, up from 8 percent last year, while 38 percent said they would spend less, down from 41 percent a year ago.

More about

More about

More about

  • Discuss

Kurdistan's Forbidden Fruit: Homemade Wine

Print With Lamborghinis and Rooftop Sushi, Why Is Kurdistan Broke? Nabaz* carefully poured the red wine into one glass, then another, set the …

Published: July 30, 2016 - 6:47 am @ http://www.voanews.com/content/iraq-kurdistan-wine…

Literary Bad Boys

In preparation for Emily Bronte’s birthday, we’re thinking of Wuthering Heights’ quintessential romantic anti-hero: Heathcliff. In his honor, …

Published: July 30, 2016 - 6:23 am @ https://www.nypl.org/blog/2016/07/28/literary-bad-boys

Islamic State training 'next generation' fighters: Report

STEPS FOR DISABLING AD BLOCKERDriving in Canada Canada - a home away from home Canada, it's time to change! Living with a disability in Indo-C…

Published: July 30, 2016 - 5:53 am @ http://timesofindia.indiatimes.com/world/uk/Islami…

4 Zika Cases in Florida Were Likely Spread by Local Mosquitoes, C.D.C. Says

There are now more than 1,600 confirmed Zika cases in the continental United States. Until the announcement on Friday, all of them had been a …

Published: July 30, 2016 - 3:51 am @ http://www.nytimes.com/2016/07/30/health/zika-viru…

Republican VP nominee Mike Pence to hold events in Arizona next week

PHOENIX — Republican vice presidential nominee Mike Pence will hold two events in Arizona next week. Pence plans to hold town-hall style event…

Published: July 30, 2016 - 2:21 am @ http://ktar.com/story/1201470/republican-vp-nomine…

Are the 'Harry Potter' films better than the books? A passionate and magical debate

LONDON — In a desperate attempt to make the final hours before the release of the eighth Harry Potter story go a little bit quicker, we've dec…

Published: July 30, 2016 - 2:14 am @ http://mashable.com/2016/07/30/harry-potter-films-…

An Inside Look: The Herb Box

With locations throughout the valley and cohesive menus for brunch, lunch, dinner, drinks and dessert, The Herb Box is a gem. This hip rustic …

Published: July 30, 2016 - 1:20 am @ http://www.smartfem.com/entertainment/herb-box/

Activists protest no charges for cop in Arizona shooting of Native American woman

A small group of protestors in Phoenix, Arizona, met employees of the Maricopa County Prosecutor as they arrived for work on Monday, protestin…

Published: July 30, 2016 - 12:42 am @ http://www.dailykos.com/story/2016/7/28/1553073/-A…

Movies in a Minute: 'Jason Bourne'

Do you realize it’s been nine years since the last “Jason Bourne” movie? As a fan of the franchise, I have to say I’m disappointed in this one…

Published: July 29, 2016 - 11:43 pm @ http://ktar.com/story/1201697/movies-in-a-minute-j…

Phoenix Planning for a New Approach to its Urban Forest

A city famous for tall palm trees wants to find some shade.William Yardley reports on an ongoing planning effort in Phoenix to cultivate a tre…

Published: July 29, 2016 - 11:12 pm @ http://www.planetizen.com/node/87654/phoenix-plann…

Facebook

ahwatukee.com on Facebook

Twitter

ahwatukee.com on Twitter

RSS

Subscribe to ahwatukee.com via RSS

RSS Feeds

Spacer4px

Most Popular

Online poll

Loading…