December 12

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Local Merchants Continue to Report Sales Increases

December 12

Norfolk, VA – Many local retailers in Hampton Roads continued to report sales increases during the third weekend of the holiday shopping season through the third annual RETAIL ALLIANCE Holiday Sales Watch, a weekly snapshot of retail activity in Hampton Roads.

74 percent of survey respondents reported sales were up or even over the same period last year. Of those reporting higher sales, the average increase was about 9 percent. All “specialty gift” retailers are reporting higher sales, and 60 percent of stores in the “home décor” category reported sales were up. Although stores in the “jewelry” category continue to report sales even or down from last year, jewelry items are appearing frequently in the list of popular items.

On the national scene, with only two weeks until Christmas, it appears that consumers have been shopping at a slower pace than last year, according to a story posted on CNN/Money’s website. According to an International Council of Shopping Centers survey over the weekend, shoppers said they have completed 36 percent of their holiday shopping so far. Last year they had completed 50 percent or more of their holiday shopping by this time.

The National Retail Federation continues to estimate holiday sales during November and December will grow 5 percent to $457.4 billion, down from last year's 6.1 percent increase

Hot Sellers in Hampton Roads for the Survey Period Dec 8 - 10, 2006

Food: Gift packs of holiday foods
Home décor: Wine caddies and stoppers, ceramics, hostess gifts
Jewelry: Ear rings, gold and diamonds

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