Newswise — Ipods and MP3 players are still hot, denim is not, and this holiday shopping season is going to be longer than ever! These are just a few of the fascinating, fact-based predictions Seton Hall University's Stillman School of Business students have to offer, based upon their extensive, grass-roots, on-the-ground survey conducted November 11 at The Palisades Center in West Nyack, New York.
Under the guidance of Scott Rothbort, M.B.A., professor of finance at Seton Hall and president of LakeView Asset Management, LLC, a team of 23 Seton Hall students interviewed 564 shoppers, asking a wide range of questions including the impact of energy prices and interest rates upon their shopping lists and plans. What are the answers?
* It's good news for retailers! Personal income was the most important factor determining how much shoppers will spend this year " all the complaining about energy prices and interest rates won't make a difference when shoppers reach for their wallets.
* Holiday Gift Cards are the second most popular item, after Ipods/MP3 players. Again, good news for retailers, since Gift Cards given for Christmas are used afterwards, and shoppers often spend more than the gift card total. The holiday shopping season is effectively extended through the Martin Luther King Junior Holiday Weekend.
* Shoppers are hunting for bargains, as many of the survey respondents volunteer that the price of a gift is a very important factor.
* Despite fears to the contrary, there was less denim in stores however there were many denim markdowns, suggesting the trend for denim has cooled.
* Best Buy, the Apple store, Abercrombie & Fitch (plus its affiliate Hollister), Old Navy (but not its parent The Gap) remain popular with shoppers of all ages.
"At the Stillman School, we want our students to be better investors and consumers through on-site fundamental and anecdotal observation," says Rothbort. "The need to connect with consumers of all backgrounds and tastes is paramount to developing a well-rounded investment thesis."
Seton Hall University gratefully acknowledges Palisades Center and thanks the mall's management for their kind cooperation and assistance in making this educational project possible.
The Palisades Center is a four-level shopping center, which boasts over 270 specialty shops, 14 restaurants, Unique thEATery Area, 25 eateries, NHL-size ice skating rink, 68 foot Ferris wheel, restored antique carousel, 21-theater stadium-style Loews Theatres and a state-of-the-art IMAX Theatre.
For nearly 150 years, Seton Hall University has been a catalyst for leadership, developing the whole student, mind, heart and spirit. Seton Hall combines the resources of a large university with the personal attention of a small liberal arts college. Its attractive suburban campus is only 14 miles by train, bus or car to New York City, with the wealth of employment, internship, cultural and entertainment opportunities the city offers. Nationally known and respected as a leading Catholic university, Seton Hall embraces students of all races and religions, challenging each to better the world through integrity, compassion and a commitment to serving others. For more information, visit http://www.shu.edu.
At the time of this news release, Scott Rothbort (professor of finance at Seton Hall University and president of LakeView Asset Management, LLC, http://www.lakeviewasset.com ) his family, LakeView Asset Management, LLC or its clients were long shares of Abercrombie & Fitch, Apple Computer and McDonald's. This is not an offer or recommendation to buy or sell securities on the part of LakeView Asset Management, LLC, Professor Scott Rothbort or Seton Hall University.
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