Forecasting Holiday Shopping
November 15th, 2013 by flanewsNaughty or nice, this year’s holiday shopping trend looks to be mostly sunny, despite uncertainty with the government shutdown earlier this fall. As Matt Horn reports, sales are projected to increase by four percent in the Sunshine State.
Retail experts say Black Friday in Florida is projected to see one of the largest increases in recent years for the holiday shopping season.
“While over the last five or six years we’ve averaged about a 3 point 3-percent increase over the previous year. I think we’re going to be over four,” said Rick McAllister, president and CEO of the Florida Retail Federation.
Many shoppers have been shopping early and taking advantage of some early deals.
“I guess September. We watch for the sales that come up and everything,” said shopper Florence McCutchen.
“Well, save my money because Black Friday comes up. I get all I can get, that’s about it,” said shopper Ladarius Calhoun.
To prepare for the economic uptick, employers are hiring more people for the season.
“We as a company, we have hired more than 35-thousand seasonal workers,” said Ray Grey, a manager at JCPenney.
Retail jobs provide one out of every five jobs in Florida, bringing more than $49 billion dollars to the state in wages.
The season is “make or break” for many retailers. Some stores will make upwards of 25 percent of their annual profit in November and December.
“This is a critical time. Its also important for the state. Sales tax is a big deal to our state,” said McAllister.
There are six fewer shopping days this year between Thanksgiving and Christmas than last year.
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