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Ohio holiday sales to be highest in five years, report says

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By Tristan Navera, Staff Writer Updated 4:13 PM Tuesday, November 15, 2011

Ohio businesses will feel some long-forgotten holiday cheer this year as economists predict the holiday season will be the best in the state in five years .

Focus on Ohio’s Future, a not-for-profit research group for the Ohio Council of Retail Merchants Association, anticipates $939.9 million in taxable retail sales this November and December in Ohio, a growth of 3.31 percent. The season will be the best since 2007, economists predict — and the Dayton area will see 7.4 percent of that income, amounting to $69.9 million in sales.

The numbers exclude motor sales, gasoline and sales made via catalogs and the Internet, the center said..

In its forecast, the National Retail Association predicts an “average” 2011 Holiday shopping season nationwide. They predict holiday sales will increase 2.8 percent to $465.6 Billion, far below the 5.2 percent increase experienced last year, though above the 2.6 percent 10-year average.

The Ohio Council of Retail Merchants attributes Ohio’s above-average expectations to positive economic numbers in 2011, including slowy rising employment, slightly higher inflation and positive sales figures so far this year.

Holiday shopping accounts for about 20 percent of retailers’ annual sales — with some industries like jewelry stores seeing as much as 29 percent of their annual income from the holiday season. Additionally, the association estimated 480,000 to 500,000 seasonal jobs will be added nationwide this season — on top of 100,000 retail jobs already added since August and comparable to last year’s 495,000 seasonal employees.

Contact this reporter at (937) 225-2206 or tristan.navera@coxinc.com.

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