While in-store retail sales might be down over last year’s Black Friday, it’s way too early to declare the 2014 holiday shopping season a disaster, a Georgia State University business expert says.
“While there is some data from a few days available to us right now, we need to give it some time before we declare consumers spending levels a bust; nominal or a boon this year,” said Christopher Lemley, director of the Professional Selling and Sales Leadership Program at Georgia State’s Robinson College of Business. “Stay tuned.”
Lemley, a 28-year veteran in the marketing field, has had senior management positions for two of the largest international advertising agency networks, and has also worked with major national and international clients including Federated Stores, Sara Lee Corporation, Twentieth Century-Fox Films, The Hoover Company and Wrangler Jeans.
“The fact that ‘in store’ retail sales are down over last year is somewhat not surprising as brick and mortar stores were hit by a triple whammy,” Lemley continued. “In the Northeast population corridor, the weather was bad and probably kept a significant number of shoppers home. Additionally the Conference Board’s Consumer Confidence Index fell in November and generally as that measure falls, we often see it reflected in customers putting off purchases until later.
“And finally as more an more shoppers are using on-line retailers for purchases, those purchasers have opted out of in-store sales,” he explained.
The key things to watch? The figures from Cyber Monday and online shopping, to see if there is an uptick, or if they’re as “soft” as in-store sales, Lemley said.
“Finally, we might be interested in hearing what durable good sales are,” he said. “Perhaps people are purchasing automobiles for the holidays this year, or new appliances to replace those that they have been holding onto for a few years too many.”
For a biography of Lemley, visit http://robinson.gsu.edu/profile/christopher-k-lemley/.
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