Retailers will be smiling all the way to the bank this holiday season as it appears there will be more packages under the tree. Jim Otto is the Executive Director of the Nebraska Retail Federation and says the projected spending for this holiday season is up.
“Predicts a 2.3% increase in estimated holiday spending and nationally to be $447 billion.”
Otto tells us what Nebraskans plan to spend this season.
“Nationally to be 447-billion and Nebraska’s share of that would be over two-billion dollars.”
Due to the difficult economy, sales last year only saw a one-half percent increase. Otto says using last year’s figures, more people looking for a seasonal job should have success.
“If we just take that same figure, we would be increasing, in Nebraska, somewhere around 26-hundred jobs. Now, with the increase in sales, it should be higher than that.”
Otto says each family or individual usually spends about 700-dollars during the holiday season.
“$386 dollars for gifts for family. $66 dollars for gifts for friends.
$19 dollars in co-worker gifts. 34-dollars in other gifts.”
Otto says the rest is spent on decorations, food and holiday greeting
cards. He says even though spending was slow last year, nearly
30-percent of all sales came from the jewelry department. He says there are always certain hot-ticket items that go fast.
“Electronics, apparel and jewelry always are big items during the holiday season. Of course, gift cards are more and more popular.”
Have you started your shopping for the season yet? Otto says statistics show nearly 40% of the population start shopping for Christmas before Halloween.