Nov
23

ICSC Forecasts U.S. Chain Store Holiday Sales Will Grow 1.7 Percent This Year

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This year U.S. chains’ same-store sales will likely increase 1.7 percent during the traditional November-December holiday shopping period, according to Michael P. Niemira, ICSC’s chief economist and director of research. The 2008 holiday season will be challenging for many U.S. chains, but discounters and wholesalers will have a relatively good season as consumers focus on basics and value, he says.

“This year’s holiday-season spending will be more modest compared with recent years as the U.S. financial and economic crisis weighs on consumers’ willingness and ability to spend,” said Niemira. “Not surprisingly, big-ticket purchases are likely to take a backseat to more traditional, basic and value-oriented goods and services,” he added.

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