Retailers Heed Lessons of 2008 As They Prepare for a Challenging Holiday Shopping Season

ALBANY, NY (11/04/2009)(readMedia)-- Stocking shelves with lower-priced, practical items will be among the strategies New York State merchants employ to encourage cautious shoppers into their stores this holiday season, according to a recent survey of Retail Council of New York State members. The survey revealed 58 percent of respondents anticipate their 2009 holiday season sales will be the same as or better than their 2008 holiday season sales.

The Retail Council, the state's largest retail trade association representing 5,000 stores of all size and variety from national chains to independent Main Street merchants, conducts a Holiday Sales Watch survey of members each year between Thanksgiving and Christmas to track retail sales and trends. To kick off the 2009 assessment, the Council conducted this Holiday Season Forecast survey to get a sampling of what members believe the season holds in store for New York State retailers. The survey was mailed to Retail Council members in mid-September and results were collected through Oct. 31.

"Nothing could be worse than 2008," one member responded, revealing that retailers are more prepared for a soft shopping season and have a game plan for 2009. When asked if they planned to purchase less inventory for the upcoming holiday season than in previous years, 49 percent of respondents said yes, while 44 percent indicated they planned on purchasing more merchandise they can sell at lower price points than in previous years.

Not surprisingly, survey participants cited the economy and unemployment as the top two factors that would have the greatest affect on 2009 retail sales. A majority of participants (70 percent) indicated they would be hiring the same as or more employees compared to last year to assist them in the upcoming weeks.

"Retailers paid attention to what worked and what didn't work during a disappointing 2008 holiday shopping season and they have a strategy moving into 2009," said James R. Sherin, president and chief executive officer of the Retail Council. "They'll be keeping an eye on their inventory and stocking their shelves with practical gifts and merchandise they can sell at lower price points wherever possible."

In addition to this forecast survey, the Retail Council will poll members three additional times via telephone between Black Friday and the week after Christmas to gauge retail sales and trends. Visit www.retailcouncilnys.com for the latest updates to the Holiday Sales Watch.

About the Retail Council of New York State:

The Retail Council offers money-saving group benefit programs, including workers' compensation insurance, statutory disability insurance and credit card processing, to its members. The "Voice of Retailing" in New York, the Council also represents its membership before the state Legislature and regulatory agencies.

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