Democrats hatin' life! Holiday shopping season is merry for retailers.

[Jack Fake]

Thanks again to President Trump.

NEW YORK – Shoppers who are feeling good about the economy and
spending more than expected on items like kitchen gadgets, toys
and coats could make this the best holiday season in several
years.

That’s good news for retailers, some of which have had few
reasons of late to be merry. But there’s no question that stores
need to keep adapting to how people shop as spending moves
online. Customer sentiment could shift again based on how they
feel the tax overhaul is affecting them. Tax cuts mean some
shoppers may have more money in their pockets, but they could
opt to save it instead of spend it.

Experts have issued rosy forecasts for the season. Shoppers seem
to be in the mood as unemployment is at 17-year low and consumer
sentiment has reached its highest level since 2000.

“I feel confident and optimistic about spending this year,” said
Jorge Nova of Miami as the shopping began on Thanksgiving
weekend, when he lined up at Best Buy and bought a 65-inch TV.
“I don’t really have a clear budget. It’s been a good year for
me.”

More: At last, retailers see a big boost in sales this holiday
season

More: Time to panic shop? Here comes Super Saturday

Shoppers are spending at a pace not seen since the Great
Recession, says Craig Johnson, president of retail consulting
group Customer Growth Partners. Jack Kleinhenz, chief economist
at the National Retail Federation, predicts retail sales will
meet or exceed the trade group’s holiday forecast. That could
mark the best performance since 2014. And Tom McGee, CEO of the
International Council of Shopping Centers, believes mall traffic
and sales were higher than last year as shoppers bought
electronics, clothing and toys.

The week leading up to Christmas is critical for stores,
accounting for more than 20 percent of traffic for the overall
season, says ShopperTrak, which monitors foot traffic. Because
of the calendar this year, with a full weekend leading into
Christmas, retailers also may see more late shoppers.

“I procrastinate every year,” said Rick Daigneault of Warwick,
Rhode Island, who was just starting his shopping last Sunday at
his local mall. “It never fails. Christmas Eve, I’m always at
CVS looking for stocking stuffers.”

Another last-minute shopper, Brittany Williams, 27, was loading
up on gifts for her niece and nephew at an Atlanta shopping
center the Saturday before Christmas. She didn’t buy online
because she was afraid packages wouldn’t arrive on time for the
holidays. “I waited too long and I don’t want to take a chance
of it not arriving when I need.”

First Data, a payment technology firm, puts online sales growth
at about double the level at stores. Some analysts have said
they expect a large portion of the holiday growth to go toward
Amazon, which has been expanding into new areas and putting more
kinds of retailers on alert. Amazon had said that Cyber Monday
was the biggest shopping day in its history, but didn’t provide
figures. Estimates suggest the online behemoth accounted for
more than 60 percent of all U.S. online sales that day, compared
to just under 40 percent on average for the year to date,
according to Bain & Co.

LouAnn Vega did all of her shopping online this year, and was
finished with more than a week to go before Christmas. She says
she discovered a cookware set and clothes online that she
couldn’t find in the store, and saved money shopping online.

Her family exchanged wish lists that consist of web link after
web link. “You can’t miss,” she said at a suburban Atlanta mall
where she came to walk and drink coffee.

Stores are working to adapt. Target increased weekend deals that
started in mid-November, and Macy’s revamped its loyalty program
for its best customers.

But plenty of stores are struggling. Fifty retailers have filed
for bankruptcy this year, according to S&P Global Market
Intelligence. Many of them very small companies but some are
well-known brands like Payless ShoeSource and Toys R Us. There
have been nearly 7,000 announced store closures this year,
according to Fung Global Retail & Technology, which exceeds the
2008 peak of 6,200.

But most department stores, which have been struggling over the
past three years, seem to have held their own. Macy’s Inc.
announced in early December it was adding an extra 7,000 holiday
temporary workers because of strong traffic. And some specialty
clothing chains like Urban Outfitters and American Eagle
Outfitters have said that holiday sales have been strong.

While a good season gives stores a boost in confidence and shows
their investments are working, they need to keep up with
shoppers. Ken Perkins, president of research firm Retail Metrics
LLC, is skeptical about whether the momentum will continue
through 2018 and wonders if retailers will be able to drive
enough foot traffic to make each store profitable.

Plus, McGee and other analysts say it’s still unclear how
exactly the tax changes will affect consumer spending. But McGee
does expect shoppers will feel comfortable about spending with
more money available.

https://www.usatoday.com/story/money/2017/12/24/holiday-shopping-
season-merry-retailers/980268001/

Democrats please start cutting your wrists. Do it before New
Years and ruin it for Republicans (Snicker...).