Furniture Today Staff -- Casual Living, November 1, 2009
Social media will play a vital role in this year's holiday season, according to Shop.org's eHoliday study. Results from the study show retailers are acknowledging consumers' use of social media and are getting onboard. Casual Living's exclusive 2009 Surviving the Times survey revealed 36% of outdoor retailers are likely to develop social networking, such as Facebook or Twitter, to connect with their customers.
"This holiday season will be a bit of a dance between retailers and shoppers, with each feeling the other out to understand how things have changed and how they must adapt," according to Tracy Mullin, National Retail Federation president and CEO. However, innovative retailers who offer consumers the bargains and shopping options they seek may likely find their cash registers ringing this holiday season.
Consumer credit outstanding
Percent change at annual rate
|r = revised; p = preliminary
Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
Nonrevolving credit includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers or vacations. These loans may be secured or unsecured.
Source: Federal Reserve
Unit numbers in thousands
Seasonally adjusted annual rate
September '09 numbers are preliminary
Source: Bureau of the Census and National Assn. of Realtors
|Change from Sept. '08||-28.9%||-32.6%||-25.4%||-28.8%||-30.0%|
|Change from Sept. '08||-28.2%||-38.4%||-22.5%||-26.5%||-30.5%|
|New home sales|
|Change from Sept. '08||-7.8%||68.0%||12.7%||-23.6%||-1.0%|
|Existing home sales|
|Change from Sept. '08||9.2%||11.8%||7.8%||10.8%||5.7%|