Cold Christmas, Happy Hallowe’en
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Manufacturing News, Source : The Manufacturer US
Published : 04 Oct 2006 16:42
Cautious consumers timid about Christmas
CPG manufacturers can expect a slower-than-average Christmas sales, but overall strong sales for 2006 according to National Retail Foundation (NRF) data.
Total “holiday retail sales” (occuring in November and December) are expected to increase 5.0 percent over last year, bringing holiday spending to $457.4 billion.
In comparison, holiday sales in 2005 rose 6.1 percent
to $435.6 billion.
NRF’s definition of “holiday retail sales” does not include Hallowe’en, and consumers are expected to spend $4.96 billion this Halloween, up significantly from just $3.29 billion a year ago. The spending increase is largely due to a surge in celebrating, particularly among adults. The average consumer plans to spend $59.06 on Hallowe’en, compared to $48.48 last year. Hallowe’en activities will range from handing out candy (73.4 percent) to dressing in costume (34.0 percent). (Repeat: these are adults.)
Why the slow Christmas? “Consumers have faced a number of economic challenges this year and have taken them in stride,” said NRF Chief Economist Rosalind Wells. “Although sales gains will not be as robust as last year, retailers can still expect above-average holiday sales growth.”
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