NEWS RELEASE
For Immediate Release
Contact:  Patrick Donoho
410-269-1440
202-255-8992 (cell)
Retailers Expect Modest Sales Gain This Holiday
Retailers See Encouraging Signs
Shoppers Will See Great Deals

Retailers are cautiously optimistic on 2010 holiday sales with sales increases of 1-2%. MRA President Patrick Donoho cautioned that the road to recovery for merchants is still a long road to the pre-2008 levels. “Retailers are guardedly optimistic that the economy has finally turned the corner to recovery.”
Donoho pointed to pent up consumer demand and improving economic conditions as the major reasons for the retail forecast. Although unemployment remains stubbornly high and is a significant factor in Maryland’s retail market, the fear of a double dip recession is waning MRA said. “Retailers are hoping for modest, sustainable growth in sales for the holidays,” noted Donoho. “In the last few months, sales have been unpredictable, which has made it difficult for retailers to forecast the holiday season.” However, recent retail hiring announcements for the holiday and the rebound in the stock market are positive signs for holiday sales.
MRA’s forecast is based upon a survey of its members and a review of retail industry data and economic indicators. This year’s MRA survey of members is more positive than the last two years. “Almost all of our members are predicting between flat and 2% growth in sales this year,” indicated Donoho. “They know their markets extremely well and tend to be very accurate in their outlook.”
Bargain shoppers also will not be disappointed. “Our members know that price matters in these tough economic times and will aggressively compete for consumers’ business,” Donoho said. MRA hopes that Maryland shoppers will support their local economy by shopping Maryland retailers. With increased competition from a variety of sources (neighboring states without/lower sales taxes to internet sales), shopping local retailers will not only help the communities of Maryland but the state budget as well with increased sales tax revenue that would be lost to internet sales or neighboring states.

            The Maryland Retailers Association is the retail community’s major statewide trade association in Maryland.  MRA’s membership at some 1500 locations encompasses all segments of the retail industry and includes both local independent merchants and regional and national chains.

            Holiday sales are measured as sales in the GAFS category: general merchandise, clothing and clothing accessories, furniture and home furnishings, electronics and appliances, hobby, book and music and building and garden equipment.