Florida retail sales are projected to be 4 percent higher this holiday season than last, which is expected to outpace the national average of between 3.3 percent and 3.5 percent growth.
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At the same time, shoppers are expected to spend $935 each on gifts, décor and a little something extra for themselves.
The Florida Retail Federation represents store owners, and it closely tracks forecasts going into each holiday shopping season, defined as the last 61 days of the year.
It’s a huge time for retailers. One example, says Florida Retail Federation CEO Randy Miller, is jewelry stores do 26 percent of their year’s sales in these two months.
He says economic indicators show this year, especially, will be good for retailers.
“Florida’s economy remains strong, unemployment is at a nine-year low, housing remains hot and 100 million extra shoppers in the form of tourists are expected again, which should lead to a successful holiday shopping season for our 270,000 retailers statewide,” Miller said.
He said, in difficult times, people buy only what’s on their family’s wish lists, “But in good times, we will purchase those items on the list and even some special gifts for ourselves because, hey, we deserve it, right?”
Shoppers are expected to spend a record $140 on gifts for themselves this year, he said.
And holiday shopping is expected to bring good cheer to retailers long past the official season. That’s because roughly $30 billion in gift cards are expected to be purchased nationwide, and most won’t be redeemed until January or later—if they’re redeemed at all.
Other predictions:
- Sunshine State shoppers will load up on the most popular items this year, led by gift cards for the 10th year in a row, followed by apparel and footwear, toys and games (not including apps or video games), men’s and women’s accessories, cosmetics and fragrances, and electronics.
- The most popular toys this holiday season will include Nerf items, LEGOS, toys from Disney Junior channel cartoons, microphones, drones and merchandise from two movies: “Trolls” and “Star Wars: Rogue One.”
- The stores that will see the biggest increases in 2016 include health and personal care stores, building material, garden equipment and supply stores, and electronics and appliance stores.
And for shoppers wondering why stores start stocking winter items so early, 40 percent of shoppers began their holiday shopping before Halloween to help spread out their spending.
“Shoppers shouldn’t be surprised to see Christmas decorations already up in stores, as retailers want to give that festive and fun holiday shopping experience to those consumers who want to complete their shopping early,” Miller said. “Retailers continue to respond to what their customers want, which is to see Saint Nick and holiday themes in their favorite stores in November and even October.”
Photo used under Creative Commons license.
