Strong Sales of Discounted Electronics Helping Some Retailers
Posted on December 14, 2009The Seattle Times reports that America's Research Group (ARG) analyst Britt Beemer is raising his holiday sales forecast thanks to strong sales of discounted electronics. He is now forecast a drop of 1.2% from 2008's holiday sales instaed of a 2.9% drop.
It sounds a little more optimistic than the bleak outlook ARG released on December 7th. Reuters reports that another ARG study suggests retailers hoping for after Christmas shoppers will be unhappy. Reuters writes, "Only 35 percent of consumers surveyed over the weekend said they would shop in the week after Christmas on Dec. 25, according to survey questions posed by America's Research Group on behalf of Reuters."Britt Beemer, a consumer analyst with America's Research Group in Orlando, Fla., now predicts holiday sales nationwide will decline 1.2 percent from last year -- better than the 2.9 percent drop he had expected.
Beemer said today strong sales of discounted electronics, especially TVs, caused him to raise his forecast.
"When flat panel TV sets hit the magic $499 price point, sales go up like a rocket," he said.