December 5

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Local Merchants Report Fair Holiday Sales Growth

December 5, 2005

Norfolk, VA - Local retailers in Hampton Roads reported another modest increase in sales during the previous week, the first full week of the holiday shopping season. Twenty-seven retailers reported sales results through the second annual RETAIL ALLIANCE Holiday Sales Watch, a weekly snapshot of retail activity in Hampton Roads.

81 percent of survey respondents reported that their sales were up or even, the same percentage as Thanksgiving weekend. However, 67 percent of these respondents reported sales up, which is an 11 percent increase over last weekend. For example, 80 percent of home décor stores reported higher sales, as did 66 percent of apparel stores.

Of those reporting higher sales, the average increase was 6 percent over the same holiday shopping period in 2004. Although a few merchants reported a decrease in sales, the majority of retailers indicated that shoppers appeared positive and upbeat. However, many consumers continue to look for bargains and do not yet exhibit any urgency to buy. According to the merchants surveyed, shoppers’ attitudes ranged from “cheerful” to “pouted out.”

“The fact that our local consumers are more price-conscious than ever should not come as a surprise,” said C. Donald Porter, president/CEO of the RETAIL ALLIANCE. “Even though our region has experienced some welcome relief on gasoline prices in recent weeks, I believe that people are watching their holiday spending closely. Retailers will have to go all-out to bring people into their stores and increase sales.”

Hot Sellers in Hampton Roads for the Survey Period Nov. 28 – Dec. 4, 2005

Food: Wine, cheese balls (party food)
Apparel: Mink coats, snow apparel, cashmere sport coats, sweaters, capes, leather, bridal items
Jewelry: Diamonds, watches and rings.
Specialty Gifts/Home Decor: Ornaments, Christmas items, Yankee candles, bird houses
Electronics/Entertainment: DVD’s – Mr. and Mrs. Smith

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