It’s beginning to look a lot like Christmas!
Posted Nov 1, 2010 2:48 pm.
This article is more than 5 years old.
Even before the costumes and decorations for Halloween are put away, the focus for retailers and consumers has shifted towards the upcoming holiday season.
A new Ernst & Young Canada study describes the current economic mood as cautiously optimistic, which should translate into slighlty stronger sales.
“We’re predicting about a two to three percent increase over 2009, which itself was up about two per cent from a very weak 2008,” Ernst & Young’s Daniel Baer tells 660News, commenting on last year’s national sales of $36 billion increasing.
But don’t expect a lot of sizzle in light of economy continuing its recovery. Baer says gift cards will be popular again.
“Gifts that are purchased tend to be more practical and tend to be less extravagant,” said Baer. “So we think that trend will continue.”
Baer notes consumers are still cautious because debt levels are still high.
“There is still a certain amount of consumer skepticism about how the Canadian economy is acting,” he says.
Besides gift cards, Baer says clothes and electronic products should be big sellers this holiday season.
