Xmas hope for retail
Posted Nov 2, 2010 04:39:09 AM.
This article is more than 5 years old.
A new survey from Ernst & Young points to stronger sales approaching this Christmas, though not quite a return to pre-recession levels.
“After a very hard holiday in 2008 and 2009, consumers are looking a little bit more at discretionary spending and having a little bit more fun,” notes Daniel Baer, Ernst & Young Partner and national retail industry leader. “Certainly they’re in a little bit better mood than over the last couple of years.”
The Ernst & Young survey points to an increase of about 2-3% in holiday shopping sales versus comparatively weak 2009 holiday sales.
“(Consumers) are still concerned about employment and the levels of debt they might have, so impulse buying may be back a little bit this year but it certainly won’t be to the level that it might have been in the past,” says Baer.
The spending will vary across the country, with Quebec and British Columbia outperforming the rest of Canada, and Alberta and Ontario in line with the average increase.
Traditional gifts like clothing and books will remain popular, but Baer is expecting a boost this year in spending on electronics and even jewelery.
