November 25th, 2013

Ohio Holiday Retail Sales To Grow 3.5 Per Cent, Says Economics Center

Economics, Local Business, News, The Council 0

Please select the following link to view a copy of the full holiday sales report: http://focusonohiosfuture.com/wp-content/uploads/2013/11/Holiday-Sales-Forecast-2013.pdf

 

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Ohio Holiday Retail Sales To Grow 3.5 Per Cent, Says Economics Center

(November 25, 2013 Columbus) Ohio retail spending this holiday season will show a 3.5 per cent increase over last year, said University of Cincinnati researchers in a report prepared for Focus On Ohio’s Future, the public research arm of the Ohio Council of Retail Merchants, Ohio’s oldest and largest advocates for the retail industry.

“As a daily barometer of the nation’s economic vitality, Ohio’s retailers are pleased to learn that Ohioans expect to continue their time-honored holiday gift-giving traditions,” said Gordon Gough, Ohio Council of Retail Merchants President / CEO.

“The 5,000 members of the Ohio Council of Retail Merchants serve millions of Ohioans every day, and we look forward to continuing our service to Ohioans throughout this holiday season.”

“Sales should increase this year as they have every year since the end of the recession,” said Jeff Rexhausen, Senior Research Associate for the University of Cincinnati Economics Center.  “Positive economic trends continue to outweigh negative ones, and Ohio retailers seek to attract shoppers with a value proposition that is a combination of quality, price, and service.

“Positive Ohio economic trends include a mild increase in wages and salaries and a recovering housing market.

“National factors aiding retail growth are increased stock market prices, which has now topped its all-time high, and declining gasoline prices leading to increased disposable income,” Rexhausen concluded.

The positive forecast is encouraging to Ohio retailers.

“We are pleased to present our fourth annual Holiday Retail Sales Forecast,” concluded Focus On Ohio’s Future Executive Director John McGough, “continuing to fulfill our mission to provide insightful research on Ohio’s retail sector and the consumers we serve.”

The full report is available online at http://focusonohiosfuture.com/?page_id=19.

Founded in 1922, the Ohio Council of Retail Merchants is Ohio’s oldest and largest advocate for the retail industry, representing more than 5,000 retailers across the state.  Ohio’s retail industry accounts for 18% of Ohio’s Gross Domestic Product ($26.5 billion annually) and directly or indirectly employs 1.5 million people, 1 in 4 Ohio jobs, more than any other industry.

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