Appliance & Electronics Store Sales Expected to Grow Over Holidays
Sep 22, 2011
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The International Council of Shopping Centers (ICSC) forecasts 2011 holiday sales in the Electronics and Appliance store sector in the United States will be up 4.0% over 2010, to $23.6 billion.
September 21 saw the release of two reports forecasting the 2011 retail sales during the holiday season (November and December 2011). Market research firm ShopperTrak predicts a sales increase of just 1.2% in the Electronics & Appliance sector compared to the 2010 holiday season. The firm predicts foot-traffic in the sector will drop 4.9%.
ShopperTrak attributed its moderate outlook for the Electronics & Appliance sector to a limited number of blockbuster electronics introduced this season. It also noted that value-conscious consumers are increasingly shopping and researching expensive product purchases online. The result is twofold:
• Consumers are finding the retailers providing the deepest discounts.
• When they do walk into retail stores they have already made a purchase decision, making them less likely to browse.
Overall ICSC is forecasting gains during the 2011 holiday shopping season – the months of November and December - will be less significant than in 2010.
Shopping centers are expected to increase 2.2% in Nov.-Dec. 2011 compared to November-December 2010. In 2010, the holiday season posted a 5.0% gain. This followed two years of back-to-back declines during the economic downturn.
In addition to Appliance and Electronic stores, ICSC expects U.S. industry holiday sales to increase in:
• shopping-center sales
• ICSC’s composite of major chains
• GAFO (general merchandise, apparel, furniture, electronic, and other) store sales
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