Economists and retail analysts are predicting that the
Holiday '99 shopping season "will be very strong," according
to Leslie Kaufman of the N.Y. TIMES. The National Retail
Federation has predicted that merchandise sales will reach
$184B for November/December, up 6% from last year.
Estimates of Holiday sales on the Web range from $6B by
Forrester Research to $12B by Ernst & Young (N.Y. TIMES,
11/26). TeleCheck Services, which traces check purchases,
says stores posted a 6.4% increase in sales on "Black
Friday" compared with a year ago. The opening weekend "was
strong for Internet shopping as well" (USA TODAY, 11/29).
TeleCheck Senior Economic Adviser William Ford said Friday
was the "strongest start to the Christmas season in five
years or more." In an effort to boost its online sales, The
Sports Authority handed out "thousands" of $10 gift
certificates for its online store over the weekend outside
N.Y.'s Manhattan Mall. For more on TSA, see (#21). CNBC's
Jennifer Lewis-Hall reported that analysts say that "two
types of retailers are likely to do extremely well -- those
with deep discounts and those selling specialty apparel."
Edward Jones' Asma Usmani: "[We feel] some of the specialty
retailers that sell name brands like Gap and Abercrombie &
Fitch are positioned to do well" (CNBC, 11/26).
