November 30

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Local Merchants Report Strong Start to Holiday Shopping Season

November 30, 2004

Local retailers in Hampton Roads reported brisk traffic and strong sales over Black Friday weekend, the traditional start of the holiday shopping season. About 44 retailers reported sales results through the Retail Alliance Holiday Sales Watch, a new weekly snapshot of retail activity in Hampton Roads. These retailers, primarily small, independent merchants, reported an average 29 percent increase in sales over the same holiday shopping weekend in 2003. Although a few reported a decrease in sales, the majority of retailers indicated that shoppers appeared confident, relaxed and ready to spend money this holiday season.

“All indicators show that the Hampton Roads economy is strong, and these holiday sales numbers are further proof,” said Retail Alliance President/CEO C. Donald Porter. “Our business climate and defense climate are good, and our tourism industry continues to do very well. All of these factors impact retail sales.”

According to the State of the Region 2004 Economic Report, produced by Old Dominion University, Hampton Roads has maintained a strong economy while other areas of the country experienced economic downturns. For example, between 2000 and 2004, per capita income in Hampton Roads increased 6.2 percent above the national average.

Local retailers attributed their strong sales to a variety of factors, including increased shopper traffic, advertising, good weather, confidence in the economy and the proximity of the weekend to a military pay day.

Hot Sellers in Hampton Roads for the Survey Period Nov. 26 – 28, 2004

Apparel: Sweat suits, casual shirts, ponchos, angora sweaters
Toys: Remote control cars
Electronics: DVD players, flat screen TVs
Jewelry: Gold, diamonds
Other: Christmas items, collectibles

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