Retailers Optimistic This Season

Retail BC Press Release

Over eight out of ten BC retailers expect their 2004 holiday-season sales to either improve or remain the same compared to last year, according to a recent survey by Retail BC. The number one explanation retailers cited as fuelling their optimism was the “improved economy,” followed by “greater consumer confidence” and “better product selection.”

“Retailers’ optimism in holiday-season sales is driven by their confidence in BC’s booming economy and reinforced by a build up of consumer confidence,” said Mark Startup, president and CEO of Retail BC.

Retail BC’s annual pre-holiday season sales survey reports that over half (57%) of respondents expect their holiday sales to increase over last year. Three out of ten (29%) expect their sales to remain the same and only 14 percent say their sales will drop.

“High expectations for holiday-season sales this year are likely inspired by recent government and Stats Can data trending towards record retail sales figures,” said Startup.

The annual survey also found that nine of ten retailers expect total BC consumer spending this holiday season to increase, compared to 2003. A large majority of respondents (65%) said total consumer spending would increase. Just over two out of five (25%) expected sales to remain the same and only one out of ten (10%) said sales would decrease.

Electronics, jewelry, gift certificates and home décor are expected to be in highest demand this holiday season.

Retail BC is the voice of over 3,500 retail companies within British Columbia. BC’s retail industry generates over $44 billion in sales and employs over 250,000 British Columbians.