December 23 Anticipated to be Busiest Day of Holiday Shopping Season
December 23 Anticipated to be Busiest Day of Holiday Shopping Season by Kentucky Independent Retailers
Kentucky Retail Federation Releases Fall 2016 Survey Results
As Thanksgiving closes in and the plethora of “named” holiday shopping days near, Kentucky retailers expect the rush to peak late in the season.
A survey conducted by the Kentucky Retail Federation (KRF) prior to the presidential election asked independent retailers across the commonwealth which day is anticipated to be the busiest this holiday shopping season. While media attention surrounds “Black Friday” and “Cyber Monday,” 29 percent of respondents pointed to December 23 as the anticipated busiest day, while 16 percent anticipate Small Business Saturday. Other popular days mentioned include Christmas Eve, the day after Christmas, Black Friday, Cyber Monday and more.
According to the National Retail Federation, clothing and accessories remain the most popular gifts this year, given by 61 percent of shoppers. Barbie tops the list of “hot” toys for girls this season and Legos again tops the list of must-haves for boys.
Going into the 2016 holiday shopping season, 43 percent of respondents anticipate Kentucky shoppers’ confidence level to be the same as 2015. Over 70 percent of respondents anticipate holiday shopping season sales to remain the same or fall short of sales in 2015 while only 15 percent expect sales to exceed last year.
“Kentucky independent retailers are still hesitant to have much optimism yet,” Tod Griffin, KRF president said.
Forty-one percent of KRF survey respondents said the condition of their local economy is the worse than last year at this time, 40 percent said their local economy was the same as 2015 and the remaining believed their local economy to be better. Kentucky retailers surveyed continue to report a steady workforce with more than half reporting no change in their full-time and part-time labor.
The Kentucky Retail Federation’s State of the Retail Industry Survey is conducted twice a year (spring and fall). The fall survey asked 2,294 independent retailers in various retail sectors questions about the current state of the commonwealth’s retail industry and the 2016 holiday shopping season.
The Kentucky Retail Federation is the “Voice of Retailing” throughout the Commonwealth, representing retailers of all types and sizes since 1939. From Main Street to the mall, retailers enhance Kentucky’s communities and provide a better quality of life for Kentuckians everywhere. Kentucky’s retail industry supports 556 thousand jobs and pays more than $9.3 billion in wages annually. Retailers collect over $2.8 billion in state sales tax and pay millions in other taxes to state and local governments.