Shopping Centers Today

NOV 2014

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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T H E C O M M O N A R E A STRONG HOLIDAY AHEAD, PARK TECHNOLOGY MAKES SHOPPING EASIER, DRUGSTORES DRAW TRAFFIC N O v E M b E R 2 0 1 4 / S C T 7 Consumers to spend more this holiday season Positive economic signals point to a stronger U.S. holiday shopping season. ICSC forecasts a 4 percent increase in sales during the November–December holiday shopping period, the stron- gest gain in three years. Total holiday shopping sales at shopping centers is projected to be $488.6 billion in the same period. A significant rebound in the U.S. la- bor market since last spring, along with year-over-year gains in personal income, all bode well for consumers and point to a likely solid increase in holiday spending, says ICSC spokesman Jesse Tron. Also, despite a setback in September, consumer confidence in the U.S. remains considerably higher than during the same time last year, he says. "While consumers are expected to remain focused on price this holiday, the positive mo- mentum of key economic indicators is pointing to consumers who are willing to open their wallets and hit the stores this holiday," said Tron. Holiday hiring, another strong indicator of holiday sales, is forecast to be up, with seasonal employment at shopping centers expected to rise by 7.3 percent, to 794,258 jobs, according to ICSC. Meanwhile enthusiasm for Black Friday shopping is at its highest in eight years, according to a survey of 500 consumers, conducted by marketing firm Accenture. Some 66 percent of respondents said they are likely to shop on that day — up from last year's 55 percent who said they would and from the 44 percent who said so in 2007. The number of Thanksgiv- ing Day shoppers is likely to be up this year, as indi- cated by the 45 percent of respondents who affirmed that they plan to shop that day, versus 38 percent in 2013. Of that 45 percent, nearly half say they are planning to shop in a physical store between 6 p.m. on Thanksgiving Day and 5 a.m. on Black Friday. Like last year's respon- dents, this year's appear to have their hearts set on discounts and sales. Nearly all of them said that discounts would spur their shopping (96 percent said so this year, ver- sus 94 percent in 2013), and nearly 30 percent said they are determined to hold out for a discount of at least 50 percent before they will make a purchase. Meanwhile, discount retailers remain the top destination for shoppers, with 71 percent of respondents saying they will buy holiday gifts at a discounter. Fifty-eight percent said they will be shopping at online-only retailers, up from 44 percent in 2013. And 47 percent said they plan to buy their gifts at department stores, up from 35 percent in 2013. (4.3%) Sporting goods, hobby, books & music (1.5%) Office supplies, stationary, & gift stores Health & personal care (28.5%) General merchandise (4%) Furniture & home furnishing (24.2%) Food & beverage stores (5%) Electronics & appliances (11.7%) Clothing & accessories (10.2%)Building material, garden equipment & supplies * S o u r C e : I C S C r e S e a r C h 2013 November–December shopping center sales*

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