Retailers Mixed on Holiday Shopping Forecast
The Indiana Retail Council is hoping for a great holiday shopping season in Indiana.
This comes despite mixed forecasts about holiday sales, the sluggish economy, uncertainty in Washington D.C. and the nation's jobless rate which is still hovering around 7.3%. IRC President Grant Monahan says the National Retail Federation is predicting sales will rise 3.9% this year over last year.
However, Morgan Stanley among others are predicting fourth quarter increases below 2% at best. Monahan says consumers are shopping earlier to spread out their holiday budgets. He also says retailers will be even more creative in promotions designed to lure shoppers into stores. Monahan says folks may spend a little less this year, but they will be in stores and will buy for loved ones.