Report: Holiday gift-buying completion rate low-Market Survey-Magazine-IRISPANCY FASHION ACCESSORIES & JEWELRY

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Magazine > Market Survey > News Content

Report: Holiday gift-buying completion rate low

12/27/2009 8:13:23 PM

New York--A super-sized snowstorm that blanketed the Northeast and Southeast this past weekend turned "Super Saturday"--the Saturday before Christmas--into a super disappointment for retailers.

According to the International Council of Shopping Centers-Goldman Sachs (ICSC-GS) chain-store sales index for the week ended Dec. 19, sales were depressed on a year-over-year basis.

Moreover, in-store sales on Saturday were off by a large double-digit percentage, according to ICSC-GS, but the week's sales pace was helped by some advance holiday gift buying ahead of the storm in those weather-affected areas.

The holiday gift-buying completion rate was especially low through Sunday, Dec. 20, in the Northeast at 65.7 percent, while the rest of the nation had an average 72.1 percent. The average holiday-gift buying completion rate at this time last year was 80.1 percent, according to ICSC-GS.

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