December 20, 2001
Michigan retailers expect busiest weekend
Michigan retailers expect this weekend to be the busiest of the season, as shoppers wrap up their holiday buying.
"The weekend before Christmas traditionally rings up the heaviest sales, and we fully expect that to be the case this year," said Larry Meyer, chairman and CEO of the Michigan Retailers Association. "It also amounts to an extended weekend, because many shoppers will have Monday off work and can look for last-minute gifts."
The week before Christmas accounted for more than 30 percent of seasonal sales last year, with the Saturday before Christmas ranked as the top shopping day, according to figures compiled by the International Council of Shopping Centers.
"Cold weather and round-the-clock store hours will add to this weekend's shopping frenzy," said Meyer. "Most stores have the merchandise and can accommodate shoppers."
Retailers will need a strong weekend to meet holiday sales forecasts of a modest increase from last year.
"Results have been mixed so far this season, despite widespread and deep discounting," said Meyer. "Some retailers are reporting their best Christmas ever, while others are down significantly from last year. These last few days will make the season for many stores."
Unseasonably warm weather has both helped and hurt retailers. Last year, snowstorms kept shoppers at home and forced many malls and stores to close in mid-December. That hasn't been a problem this year. But warm weather has slowed sales of coats, boots and other winter apparel. Northern Michigan retailers are especially concerned because the absence of snow means a lack of tourist dollars from skiers and snowmobilers.
Home furnishings and home entertainment products have been consistently strong throughout the season, reflecting a renewed emphasis on home and family in the wake of September's terrorist attacks.
"The lingering effects of the terrorist attacks seem to be influencing what people buy, not how much they buy," Meyer said. "Most retailers are attributing any weakness in holiday sales to the state of the economy rather than to the impact of September 11."
The Michigan Retailers Association is the unified voice of retailing in Michigan and the nation's largest state trade association of general merchandise retailers. MRA's more than 5,500 retail business members operate more than 12,000 stores across the state.
