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Holiday Sales Forcast

Friday Report 3-25-2016

FOR IMMEDIATE RELEASE Contact: Cailey Locklair Tolle
November 18, 2016
Holiday Sales this year should rise along with increased online spending
[Annapolis, MD] – The holiday season for many retailers is the most important
time of the year. Holiday sales are so important, the season offsets dead sales times,
enabling them to keep their doors open. In some sectors of retail, holiday sales can
account for over 25% of sales for the entire year. National projections point to a solid
3.6% increase in sales that is higher than the 2.5% average over the past ten years. Most
consumers don’t start holiday shopping until November and the majority anticipate
shopping online and at department stores, which is concerning for local retailers.
“Shopping local is important not just around the holiday season, but year round,”
said MRA President Cailey Locklair Tolle. “Online shopping may seem
appealing from retailers who don’t charge sales tax, but your community brick
and mortar stores hire your neighbors, provide much needed tax revenue for the
things we all care about and local stores give back to communities in so many
ways. As the number one private sector job provider in the state, the best way to
invest in Maryland is to shop local.”
Consumer spending should continue to increase with a projected average of $935
on holiday gifts, décor and other items. Candy and food will remain the largest sector
consumers spend money on topping $100 million nationally and the number one item on
everyone’s wish list is gift cards. Barbie was back on top last year as the number one toy
for girls and Legos for boys. All signs point to a repeat for these much-desired toys.

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