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Although consumers remain deeply gun shy about spending, there are plenty of reasons to believe that this Christmas holiday season will not be as bad for retailers as last year. In fact, a strong case may be made that the season will turn out better for retailers than many forecasts are expecting.
Yes retailers, there is a Santa Claus.
This does not mean a return of a “shop ‘til you drop” mentality by any means. Instead, there's a sense that while the consumer spending gauge has been recalibrated, there could be growth off of this new base.
"Last year's dismal holiday retail results are being left behind as consumers are slightly more optimistic about the economy and are much more savvy about how they attack their holiday gift and meal list," said Thom Blischok, president of market researcher Information Resources Inc.'s consulting and innovation unit.
Global Hunter Securities consumer strategist Richard Hastings predicts retail sales from November through January will rise 2.5 percent from last year.
According to Hastings, even with the current high levels of unemployment, a good number of consumers are feeling more secure than they did last holiday season, and they are are experiencing increased levels of buying power as prices fall on everything from food to consumer electronics.
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