Holiday sales for 2009 will be the weakest in 17 years, according to TNS Retail Forward. The research group’s forecast is for 1.5% growth, slightly above the 1.2% growth seen back in 1991.
“The holiday sales forecast represents a weakening from modest 3rd quarter growth as the boost from tax rebates runs out,” said Frank Badillo, sr. economist for TNS Retail Forward. “The benefit from a letup in gasoline prices will be overwhelmed by the impact of rising unemployment, tighter credit and other hardships on households. And, unfortunately, the trends in economic conditions offer no sign of an impending recovery.”
-- Sarah
And more unfortunate for the garden retail biz. With the vast majority of garden purchasing done in spring cosumers are unaware that inflation has hit the green indusyrty as well.
Supermarket shoppers get "used to" or at leat acustomed to weekly price increases. But when the gardeners return in spring 2009 and find 35% increases in fert prices and the basic four foot garden bench now at $300............... LOOK OUT. They will again blame the independent business owner for price gouging even though the prices have been going up for us just like supermarkets....
Posted by: greg draiss | September 22, 2008 at 12:48 PM