Christmas Shopping Trends for 2007
by Allan Pulga
U.S. retailers reported a more profitable Thanksgiving shopping weekend than expected, yet industry prognosticators are reluctant to raise their predictions for this year’s holiday season. Meanwhile, high-tech gadgets are consistently in high demand at Christmas, which leads many to believe sales of the Apple iPhone will surge in December.
The Maryland Gazette reports the Maryland Retailers Association is sticking to its prediction that holiday retail sales will only rise 2 percent this year across the state, due to deeper product discounts this year over 2006. Such a rise would be the smallest gain since 2002.
It also noted that the National Retail Federation in Washington, D.C., which forecasts a 4 percent gain in national sales to $474.5 billion, is not raising its projection.
ShopperTrack RCT Corp. estimates that retailers across the U.S. accumulated an estimated $16.4 billion in revenue over the Thanksgiving weekend, up 7.2 percent from the same two days last year – more than the research firm had anticipated.
The day after Thanksgiving, or “Black Friday,” is known as the beginning of the holiday shopping season. It typically accounts for between 4.5 percent and 5 percent of all holiday sales. It was the biggest day of last year’s season, according to the National Retail Federation.
Mark Chediak of the Orlando Sentinel reports that 2007 was generally projected to be a lackluster Christmas for retailers. He points to an interesting trend that has emerged: “Consumers, squeezed by high gas prices, falling housing values and tight credit, appear to be favoring discount stores over upper-tier department stores. During the Thanksgiving weekend, shoppers flooded big-box retailers such as Wal-Mart or snapped up heavily discounted electronics at specialty shops and mid-priced mall anchors.”
The demand for discounted electronic goods this season, especially when purchased at specialty (independent) shops, is certainly good news to wireless retailers.
In terms of wireless gift ideas, the iPhone looks set to be among the top tech gifts this year and is considered by many consumers to be the ideal Christmas present.
Savebuckets.com, a price comparison and product search site, listed its most popular searches for the festive period, with the iPhone ranked in the top three. Second only to the Sony Playstation 3, the iPhone completes a top five of a laptop, a Nintendo DS and an LCD television.
If you don’t sell the iPhone in your stores, be sure to take a look at the following article: Don't Carry the iPhone? Tips to Help You Compete