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Big unknown: Holiday shopping
By Hillary Gavan
Daily News staff writer
Retailers keep an eye on Christmas trends
Some of the downtown businesses are looking at recent economic conditions as an opportunity to promote local shopping. Each business is finding creative ways to get consumer attention this holiday season.
Jackie Gennett, co-owner of Bushel & Peck's, 328 State St., is optimistic about holiday shopping. Her store offers people the chance to buy consumable items, rather than disposable items.
With shoppers keeping watch over their pocketbooks, Gennett said they may be more likely to buy specialty foods, wine, cheese or olive oil.
“We can make a nice gift that can be consumed instead of sold in a garage sale,” Gennett said.
If Beloiters tackle the shopping season from a buy-local perspective, Gennett said the local economy could really boom this year.
Peter Fronk, manager of Turtle Creek Bookstore, 444 E. Grand Ave., said those concerned about gas prices are more likely to shop in Beloit this year. Barnes and Noble is focusing on offering special deals and reduced price merchandise to keep shopping. Fronk is confident the shopping season will be steady.
“People will still buy things for Christmas,” Fronk said.
Sally McFerren, owner of Attic Quilts, 314 State St. is predicting a strong holiday shopping season. Because her store offers fabric and notions, people usually stop in early if they are planning to make a homemade gift. Many customers have already started their shopping and the numbers are up over last year.
“If we sold sewing machines, you would see a different impact. People are already in the store buying things. When you are making gifts, you don't wait until the last minute,” McFerren said.
With the economic downturn, McFerren has been offering more classes on making homemade gifts.
McFerren believes a lot of consumer panic stems from the media and will likely calm down, although shoppers may be more careful about their spending.
“It will make people sit up and take notice and pay attention to where they are spending money, and that's not a bad thing,” McFerren said.
Tina Ramsey, co-owner of Three Wishes, 418 Pleasant St. is expecting more customers this year because the shop had only been open three weeks last year. She said that shopping as a whole might be on the decline.
Despite it all, she is working on getting her gift baskets ready and priced economically.
“ I want people to afford a nice little luxury item every once in awhile,” Ramsey said.
Although the local shopping may be strong, national forecasts suggest there will be a sluggish holiday season for the retail sector.
The National Retail Federation released its forecast for the upcoming 2008 holiday season, projecting that sales will rise 2.2 percent this year to $470.4 billion. This gain would fall well below the ten-year average of 4.4 percent holiday sales growth and would represent the slowest growth since 2002, when holiday sales rose 1.3 percent.
A number of economic indicators point to a challenging holiday for retailers. A struggling housing market and rising unemployment accompanied by meager income gains will continue to hamper the consumer throughout the season. Food and energy costs will remain high.
With the current financial industry crisis continuing to chip away at consumer confidence, the National Retail Federation does not foresee an economic turnaround until the second half of next year.
Some of the downtown businesses are looking at recent economic conditions as an opportunity to promote local shopping. Each business is finding creative ways to get consumer attention this holiday season.
Jackie Gennett, co-owner of Bushel & Peck's, 328 State St., is optimistic about holiday shopping. Her store offers people the chance to buy consumable items, rather than disposable items.
With shoppers keeping watch over their pocketbooks, Gennett said they may be more likely to buy specialty foods, wine, cheese or olive oil.
“We can make a nice gift that can be consumed instead of sold in a garage sale,” Gennett said.
If Beloiters tackle the shopping season from a buy-local perspective, Gennett said the local economy could really boom this year.
Peter Fronk, manager of Turtle Creek Bookstore, 444 E. Grand Ave., said those concerned about gas prices are more likely to shop in Beloit this year. Barnes and Noble is focusing on offering special deals and reduced price merchandise to keep shopping. Fronk is confident the shopping season will be steady.
“People will still buy things for Christmas,” Fronk said.
Sally McFerren, owner of Attic Quilts, 314 State St. is predicting a strong holiday shopping season. Because her store offers fabric and notions, people usually stop in early if they are planning to make a homemade gift. Many customers have already started their shopping and the numbers are up over last year.
“If we sold sewing machines, you would see a different impact. People are already in the store buying things. When you are making gifts, you don't wait until the last minute,” McFerren said.
With the economic downturn, McFerren has been offering more classes on making homemade gifts.
McFerren believes a lot of consumer panic stems from the media and will likely calm down, although shoppers may be more careful about their spending.
“It will make people sit up and take notice and pay attention to where they are spending money, and that's not a bad thing,” McFerren said.
Tina Ramsey, co-owner of Three Wishes, 418 Pleasant St. is expecting more customers this year because the shop had only been open three weeks last year. She said that shopping as a whole might be on the decline.
Despite it all, she is working on getting her gift baskets ready and priced economically.
“ I want people to afford a nice little luxury item every once in awhile,” Ramsey said.
Although the local shopping may be strong, national forecasts suggest there will be a sluggish holiday season for the retail sector.
The National Retail Federation released its forecast for the upcoming 2008 holiday season, projecting that sales will rise 2.2 percent this year to $470.4 billion. This gain would fall well below the ten-year average of 4.4 percent holiday sales growth and would represent the slowest growth since 2002, when holiday sales rose 1.3 percent.
A number of economic indicators point to a challenging holiday for retailers. A struggling housing market and rising unemployment accompanied by meager income gains will continue to hamper the consumer throughout the season. Food and energy costs will remain high.
With the current financial industry crisis continuing to chip away at consumer confidence, the National Retail Federation does not foresee an economic turnaround until the second half of next year.
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| Fall Harvest Fiesta set at Merrill Garden | Seasonal hiring appears stable |
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