Casual Living Staff -- Casual Living, January 1, 2010
As the New Year arrives, outdoor retailers must prepare themselves for the current economic environment. Consumers continue to tread carefully as there is uncertainty regarding income and employment. In the National Retail Federation's Holiday Consumer Intentions and Actions Survey press release, Phil Rist, executive vice president, Strategic Initiatives at BIGresearch said, “Shoppers have shown tremendous restraint in buying gifts with the money they already have, not the money they hope to have.” And, this restraint may well carry over into 2010.
So, what are retailers doing to prepare? According to Casual Living's exclusive 2009 Surviving the Times retail survey, 60% are initiating direct marketing campaigns, 57% are developing customer loyalty programs and 54% are changing where they spend their ad dollars.
Consumer credit outstanding
|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
Numbers in thousands
Seasonally adjusted annual rate
October '09 numbers are preliminary
Source: Bureau of the Census and National Assn. of Realtors
|Change from Oct. '08||-24.3%||-15.8%||-22.9%||-24.5%||-29.1%|
|Change from Oct. '08||-30.7%||-26.3%||-23.1%||-33.2%||-32.1%|
|New home sales|
|Change from Oct. '08||5.1%||5.7%||-11.1%||8.4%||8.1%|
|Existing home sales|
|Change from Oct. '08||23.5%||27.7%||28.8%||25.7%||12.0%|
OW Lee Highlights their new showroom introductions