Positive Economic Trends Point Toward Improved Consumer Spending
NEW YORK, 2014-10-15— /EPR Retail News/ — Positive economic signals point to a stronger holiday shopping season as the International Council of Shopping Centers (ICSC) forecasts a 4.0% increase in sales during the November-December holiday shopping period, the strongest gain in three years. Total holiday shopping sales at shopping centers is estimated to be $488.6 billion in the same period.
A significant rebound in the U.S. labor market since last spring, along with decreasing unemployment rates and year-over-year gains in personal income, all bode well for consumers and point to a likely solid increase in holiday spending. Also, despite a setback in September, consumer confidence in the U.S. remains considerably higher than during the same time last year.
“While consumers are expected to remain focused on price this holiday, the positive momentum of key economic indicators are pointing to consumers who are willing to open their wallets and hit the stores this holiday,” said Jesse Tron, spokesperson for ICSC.
Holiday hiring, another strong indicator of holiday sales, is forecasted to be up with seasonal employment at shopping centers expected to rise by 7.3% to 794,258 jobs.
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 67,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. For more information, visit www.icsc.org.