December 14
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Local Merchants Continue to Enjoy Strong Holiday Sales
December 14, 2004
Norfolk, VA - Local retailers in Hampton Roads continue to report strong holiday sales that appear better than the mixed national sales figures, according to the Retail Alliance Holiday Sales Watch, a weekly snapshot of retail activity in Hampton Roads.
Of those retailers reporting actual sales percentages up or down, the average is a 27.5 percent increase in sales over the same holiday shopping period in 2003, Although a few of these retailers reported a decrease in sales, the majority of retailers indicated that their sales were up or even with last year. The retailers also reported that shoppers continue to appear positive. However, a few retailers noted that shoppers are starting to appear pressed for time as the holiday approaches.
"With only one weekend left before Christmas, our retailers are looking forward to this weekend and next week,” said Retail Alliance President/CEO C. Donald Porter. “Only a small percentage of consumers have reportedly completed their holiday shopping, so it seems that retailers can look forward to many people coming into their stores looking for the perfect gifts."
On the national level, the National Retail Federation announced today that according to the third installment of its 2004 Holiday Consumer Intentions and Actions Survey, conducted by BIGresearch, the average consumer has completed 46.3 percent of their holiday shopping. Last year at the same time, the average person had completed 52 percent of their shopping, despite snowstorms that dampened traffic a year ago. The survey also found that 37.5 million consumers have not even started their holiday shopping. In spite of recent reports of mixed results, the NRF said overall retail sales are in line with its forecast of 2004 holiday sales growth of 4.5 percent.
Hampton Roads retailers surveyed attributed their strong sales to a variety of factors, including advertising, correct pricing points, excellent customer service and pleasant weather.
Hot Sellers in Hampton Roads for the Survey Period Dec. 8 – 14, 2004
Toys: Sales are definitely up, with educational toys and video games tending to be the most popular
Jewelry: Sales are picking up, with diamonds being the top seller and pendants falling closely behind
Electronics: These continue to be the hottest gifts, with department stores and electronic retailers reporting good sales of MP3 players, IPODs and DVD players.
Other: Gift sets of all types continue to sell well.
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