Mall Group Predicts Holiday Spending Up 3 Percent

By
Real Estate Agent with Russell & Jeffcoat Real Estate Corp.

  The Council of Shopping Centers released a statement yesterday that they predict holiday spending to increase 3 percent over last year.  This trade group which represents shopping malls said Friday that 'November-December spending should top $250 billion, the highest since the 2007' peak.  This prediction does not include sales at grocery stores, restaurants or gas stations but sales should certainly improve with these businesses also.

  A 3% increase in spending will be major news for the remaining retailers because after all the store closings of the past 2 years they should each grab a larger portion.  If the 3% increase materializes some stores could see 5 to 7% year over year growth.  This is how economic recoveries begin.

Terry Edwards     New & Existing Home Sales

tedwards@sc.rr.com     803 920 5327

http://www.russellandjeffcoat.com/

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This sounds like encouraging news for retail and the rest of the economy.

September 17, 2011 04:38 AM
Rainmaker
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Robert L. Brown
Grand Rapids Real Estate Bellabay Realty, West Michigan
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My question as they're shopping are they making sure the other bills are paid as well.

September 17, 2011 01:02 PM
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Lynn B. Friedman
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Dear Terry -

I wonder if this statistic is holding up now?

Have a happy day -
Lynn

November 06, 2011 08:22 PM
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Terry Edwards

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