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UNT economist predicts that 'Bah! Humbug!' may be retailers' view of Christmas 2009
DENTON (UNT), Texas – The retail industry has been hit hard by the global economic slowdown, and will be looking to the holiday season for a much needed boost. Dr. Terry Clower, director of the University of North Texas Center for Economic Research and Development, says that retailers will anxiously watching consumer behavior over the next few weeks for signs of willingness to spend this holiday season. "This holiday shopping season could shape up to be a game of ‘chicken' between retailers and shoppers," says Clower. "Shoppers are going to expect bigger discounts as the holidays get closer, but retailers are saying that there will not be huge discounts because they are carrying less inventory this year. It's a matter of who will flinch first." Weighing on retailers minds are recent trade association forecasts that predict Christmas shopping profits will be 3 percent lower than last year, poor consumer confidence because of high unemployment, and a continuing trend of households paying down debt instead of spending. "Recent spikes in gasoline prices are also causing consumers to lower consumption spending. Without some unexpectedly good news about jobs or income growth, Bah! Humbug! may be retailers' view of Christmas 2009," says Clower. Clower can be reached at at 940-565-4049 or on his cell phone at 214-202-4692. He also can be reached at tclower@unt.edu. He is available via Skype by request; contact Alyssa Yancey at Alyssa.yancey@unt.edu or 940-565-3510 to schedule an interview.
UNT News Service Phone Number: (940) 565-2108
Contact: Alyssa Yancey (940) 565-3510
Email: Alyssa.aber@unt.edu
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