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Wednesday, October 16, 2002

Survey: Holiday spending on track



By Randy Tucker
The Cincinnati Enquirer

In the retail industry, the consumer is king.

And the king has spoken on the subject of holiday shopping with more confidence and authority than originally predicted.

According to preliminary results of the National Retail Federation's annual Holiday Consumer Intentions & Actions survey - to be released today - most consumers plan to spend about the same as last year on gifts, decorations, cards and the like.

Many retail analysts had predicted that the sluggish economy, higher unemployment and concerns about war would lead most consumers to cut back on holiday spending this year.

Dollar figures will be released with a full report on the survey today.

But the survey results, coupled with observations of some Tristate retailers, seem to indicate that the outlook might not be as gloomy as had been thought.

"We've seen no indication of the consumer really pulling in the purse strings,'' said Chuck Holland, general manger of Bass Pro Shops Outdoor World at Forest Fair Mall.

"I think we'll be looking for as good a Christmas season as last year, if not better.''

Initial survey results showed that 62.6 percent of consumers polled plan to spend the same amount on holiday shopping as last year.

About one-third, 29.5 percent, said they plan to spend less, while 7.9 percent said they plan to spend more.

"The consumer has been giving mixed signals,'' said Gary Drenik, president and CEO of BIGresearch, which conducted the survey.



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