Tuesday September 14, 2010
Retailers Prepare For Holiday Sales Lift
Philadelphia — Retailers expect holiday sales in 2010 to increase compared with the prior year’s results, according to a survey from Hay Group, a global management consultancy.
The data shows 64 percent of retailers surveyed expect sales to rise, compared with 28 percent in 2009. No respondents said they expected holiday sales to decrease in 2010, compared with 36 percent who predicted a decrease in 2009.
To prepare for the increase and sales, 83 percent say they expect to hire more or the same number of seasonal workers in 2010.
In addition, some retailers are changing their strategies to manage inventory levels after heavy discounting in 2009. Of the retailers surveyed, 26 percent plan to run more promotions than they did in 2009, and 22 percent say they plan to implement most on Black Friday, a 35 percent decrease compared with the prior year and 48 the year before that.