Business Services Industry
Holiday Shopping Forecast: The Good, the Bad and the Squeezed.
AScribe Business & Economics News Service, October, 2005
Byline: Purdue University
WEST LAFAYETTE, Ind., Oct. 20 (AScribe Newswire) -- A Purdue University retail expert says consumers will have deals galore early and late as retailers adjust to gas prices that will likely limit shoppers' trips to the mall.
"While consumers have adjusted to $3 per gallon gas and have kept spending, high gas prices act like a tax on retail spending," says Richard Feinberg, director of the Purdue Retail Institute and Center for Customer-Driven Quality. "Retailers realize that fewer visits by consumers because of high gas prices mean they must offer bargains, sales and promotions designed to 'compel' spending."
Feinberg, who is a professor of consumer sciences and retailing, predicts consumers will spend 2 percent to...
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