• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Business / Economist predicts an increase in Christmas shopping this year

Economist predicts an increase in Christmas shopping this year

November 19, 2019 By Dar Danielson

Creighton University economist Ernie Goss is projecting growth for retailers in Christmas sales this year.

“Based upon our surveys, in these two surveys of manufacturers and bank CEO’s in ten states, including Iowa — the overall numbers are pointing to a positive Christmas holiday buying season — up three to four percent,” Goss says. He says on-line shopping will see an even bigger boost.

“Online buying by consumers is going to be up 14 to 15%, so much better on online buying,” Goss says. “…some of what is limiting it is finding qualified workers to fill those retail positions.” Goss says you may see the impact of the worker shortage as you look to buy gifts.

“You’re going to maybe in some cases spend more time standing in line to pay for your gift item than you did finding your gift. So it is a challenge for a lot of retailers out there,” Goss says. “And also, retailers have been through a tough couple of years and they’ve been through a lot of cost cutting. So, they’ve been cutting back on manpower as well.”

He says with low unemployment, low gas prices and a good overall economy, there is plenty to spend on gifts. “Consumers are pretty flush with at least confidence and with some spending power. Although, consumer debt is at record levels — particularly for millennials and those who have college debt,” Goss says. He says that college debt could impact some of the buying from those consumers.

Goss does have a word of caution looking forward. He says the growth in holiday sales comes as the economic growth is down from last year, signaling slower economic growth and somewhat higher unemployment levels in the weeks and months ahead.

Share this:

  • Facebook
  • Twitter

Filed Under: Business, News

Featured Stories

Final employee who was there at the launch of the Iowa Lottery to retire

No more USPS mail in Iowa prisons; inmates to get copies of mail

State officials warn of influx of fake prescription drugs laced with fentanyl

‘Brain-eating amoeba’ discovered in Taylor County lake

Cedar Rapids therapist’s relationship with student leads to years in prison

TwitterFacebook
Tweets by RadioIowa

Hutchinson calls Iowa State a perfect fit

Northern Iowa’s Farley touts new practice facility

First minor league game gets things started tonight at Field of Dreams site

Knoxville set to host sprint car racing’s biggest event

Iowa State basketball builds on its identity

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2022 ยท Learfield News & Ag, LLC