With the first big purchasing push of the holiday season now officially behind us, it seems the one thing that’s clearly in high demand this season is the Christmas barometer. As in, the kind of gauge that measures morsels of data and other indicators to give us a sense of how things are going out there in the land of the free.Read More »from Bah Humbug! Holiday Hopes Are Too High for Retailers
Contrary to more rosy consensus views, at least one veteran observer says things aren’t going to be that good for retailers this Christmas.
“At the end of the day, I think we all look at this economy and say, ‘How strong can Christmas be against a backdrop where job growth is still fairly mediocre, GDP growth is still fairly sluggish, and you’ve had this recent shock to confidence?’” says Nick Colas, market strategist at ConvergEx Group, a global brokerage company based in New York.
His own prediction is for about one to two percent sales growth this season, which is significantly lower than a widely shared outlook from the National Retail Federation for almost