November 29

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Local Merchants Report Modest Sales Increase for Thanksgiving Weekend

November 29, 2005

Norfolk, VA - Local retailers in Hampton Roads reported a modest increase in sales over Thanksgiving weekend, the traditional start of the holiday shopping season. About 28 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 sales were up or even, with 56 percent reporting increased sales. These retailers are primarily small, independent merchants. Of those reporting higher sales, the average increase was 9 percent over the same holiday shopping weekend in 2004. Although a few merchants reported a decrease in sales, the majority of retailers indicated that shoppers appeared festive and in good spirits at the start of the holiday season.

On a national level, the National Retail Federation called it Blockbuster Black Friday Weekend, saying that weekend spending reached $27.8 billion, up 21.9 percent from last year. A survey of 4,209 shoppers conducted by BIG-research for the trade group found that the average shopper spent $302.81 during the weekend.

A few Hampton Roads retailers noted that shoppers were simply looking and not buying yet, which may reflect a national trend of higher Internet sales. According to comScore Networks, Internet sales began to spike on Friday and continued through yesterday, the shopping day known as Cyber Monday. Last Friday, Americans spent $305 million online, a strong increase of 22 percent over the year before.

“It appears that Internet sales outpaced in-store sales volume for Black Friday,” said RETAIL ALLIANCE President/CEO C. Donald Porter. “This is just another indication that retailers need to develop an online storefront. We’re encouraging all retailers to either develop or upgrade their websites. Early next year, we’ll be announcing a new website development program as a benefit for our members to help them compete successfully online.”

Hot Sellers in Hampton Roads for the Survey Period Nov. 25 – 27, 2005

• Food: Wine, cheese balls (party food)
• Apparel: Athletic shoes, holiday tops for women, polo shirts and slacks for men.
• Jewelry: Colored stones, gold and watches.
• Specialty Gifts/Home Decor: Ornaments, Christmas items and candles

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