Last-minute shoppers are still trying to decide what to buy, or waiting to hear from family and friends what they want, and some are holding out for the best deals on prices, according to the trade group. Then there’s also some shoppers who’ve just put off what they can’t put off any longer, the retail federation’s survey found.
“We expect retailers will be competitive on price and value options in the final stretch, including extended store hours and in-store events, as well as online deals and free shipping offers,” said Matthew Shay, president and chief executive officer of the group representing retailers nationwide, in a written statement. “Even an unseasonably warm winter cannot keep last-minute shoppers from putting off their holiday purchases anymore.”
December temperatures touching above 60 degrees has made local shoppers feel less urgent about making Christmas purchases, said Todd Bettman, owner of Beavercreek-based Shops by Todd, which operates 17 stores under the brand names Occasionally Yours, a gift shop; jewelry store Pandora; and Jake’s Toggery, which sells southern- and coastal-inspired apparel. His brands include store locations at The Mall at Fairfield Commons and The Greene in Beavercreek, as well as the new Liberty Center development in Butler County.
“We know that there’s pent-up demand out there. We think this is going to be a huge last-minute weekend and week before Christmas,” Bettman said.
Also because Christmas falls on Friday, the extra day during the week before the holiday could lift sales at the cash register, Bettman said.
“We’re expecting big crowds and lots of traffic all the way up to Christmas Eve,” he said.
Despite a tepid forecast for retail sales this holiday season, more people — 151 million — shopped online and in-stores Thanksgiving weekend this year than expected beforehand. Based on survey results, the retail federation estimated about 136 million people would visit virtual or brick-and-mortar stores during last month’s long holiday weekend starting Thanksgiving Day and on Black Friday.
Small Business Saturday, the national event that encourages shopping at locally-owned stores the day after Black Friday, also grew this year, according to the National Federation of Independent Business and American Express.
A record 95 million people visited independent retailers and restaurants on Nov. 28, marking an 8 percent increase over 2014. Additionally, consumers spent roughly $16.2 billion on Small Business Saturday this year, up 14 percent from the $14.3 billion that was spent last year, according to American Express, which started the event in 2010.
By the time all receipts from November and December are counted, spending totals are expected to grow 3.7 percent across the U.S. to $630.5 billion. While still higher than 2014 results, cash registers — physical and virtual — are not forecast to match last holiday’s 4.1 percent sales growth, according to the national retail association.
However, Ohio alone could see a more robust holiday season with sales predicted to rise 4.2 percent statewide and increase 5.6 percent in the Cincinnati region, according to University of Cincinnati's Economics Center. The Economists Center projects a 3.3 boost in year-over-year Dayton-area retail sales.
Jake’s Toggery is a new concept started by Shops by Todd this year, with two stores now open at The Greene and Liberty Center. In fact, the Liberty Center location in Liberty Twp. opened its doors on Black Friday.
“The news of brick-and mortar’s demise is greatly exaggerated,” said Bettman.
“People are still looking for that touch and feel experience,” he said. “There will always be room for great stores with great concepts, great stories and great service and that’s what we strive to offer.”
Statistics cited from the National Retail Federation about this weekend are based on a survey conducted by Prosper Insights & Analytics that polled nearly 7,000 consumers from Dec. 1-9.
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