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December Key Month for E-Tailers.
Luxury retail and the Internet are the hot places to shop for the upcoming Christmas holiday season, according to Tracy Mullin, CEO of the National Retail Federation.
Mullin told the USA Today newspaper that she expects an overall 5 percent growth in retail sales compared with 2004. She gave the biggest draw to luxury retail stores, online shopping, and gift certificates.
In the United States, the December gift-giving season is the most important retail season, and already diamond-related retailers and are counting on strong gains to boost their bottom line.
Mullin said jewelry stores could find December sales accounting for as much as 40 percent of annual sales.
Mullin also told the newspaper that shoppers are growing retail savvy and using catalogs, the Internet, and in-store browsing to compare prices and product quality.
According to a new survey by Yahoo! small business research, 83 percent of holiday shoppers said they would be browsing the Internet for gifts in 2005. Eighty-percent of shoppers said the high price of gasoline was causing them to drive their mouse online rather than an automobile for the shopping experience.
Sixty-percent told Yahoo! that it was important to their needs that retailers have an online presence. Shopping on the Internet also affords flexibility to the consumer to "buy anytime," avoid lines and traffic, and to find specialty items often not carried in traditional stores.
Mullin estimated only four in 10 shoppers would make purchases online.
