Retailers Could See “Relatively Decent” Holiday Shopping Season
Friday, November 25, 2011
The holiday shopping season starts this week, and California retailers are hoping for strong sales. One economist is projecting a slight jump – about three percent better than last year.
California may have an 11.7 percent unemployment rate. But it’s the eighty-eight percent of people with jobs that could give this holiday shopping season a boost. Chapman University Economist Esmael Adibi said during the recession, Californians were nervous about their jobs and cautious at the store.
“All of us – I mean, we slowed down," said Adibi. "If we needed a suit, we said maybe not now. If we needed a shoe, not now. Or you know, an electronic gadget, maybe.”
But Adibi also said even though it’s not a huge improvement, the economy is bouncing back.
“And now the fact that they hear some good economic news, they basically say, I survived. And then the pent-up demand is kicking in.”
Still, Adibi believes, a jump in gas prices or a nosedive in the stock market could make this year’s holiday season a rough one for retailers.
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