The Florida Retail Federation (FRF) is expecting a happy holiday season for Florida retailers based on its latest projection.
On Tuesday, the FRF unveiled its holiday shopping forecast, predicting a 4 percent sales increase for Florida retailers over last year. This is slightly above the national projections which forecast a 3.3 to 3.5 percent increase from last year.
FRF President and CEO Randy Miller said the Sunshine State’s healthy economy was the main reason why Florida retailers can expect stronger sales than the national average.
“Florida’s economy remains strong, unemployment is at a 9-year low, housing remains hot and 100 million extra shoppers in the form of tourists are expected again, which should lead to a successful holiday shopping season for our 270,000 retailers statewide,” Miller said on Tuesday. “Smart and savvy retailers will seize on this positive momentum by incorporating discounts, sales and other perks to stand out from the crowd this season.”
Miller also noted retailers in Florida will be helped by tourists doing some of their holiday shopping in the Sunshine State.
“It’s incredible the impact tourism has on so many different aspects of our state and specifically retailing, and it represents a significant advantage for retailers as visitors stock up on supplies, gifts and memories of their trip,” said Miller.
According to the National Retail Federation, total holiday spending is expected to be more than $655 billion compared to $630 billion last year. While that number is up, the average consumer is expected to spend slightly less from last year from $952 to $935.
Miller noted stores are already getting ready for Christmas with 40 percent of shoppers starting their holiday shopping before the end of October and 29 percent of shoppers saying they will be done by Black Friday.
“Shoppers shouldn’t be surprised to see Christmas decorations already up in stores, as retailers want to give that festive and fun holiday shopping experience to those consumers who want to complete their shopping early,” Miller said. “Retailers continue to respond to what their customers want, which is to see Saint Nick and holiday themes in their favorite stores in November and even October.”
The retail industry employs around 2.7 million residents across Florida. That number will increase during the holidays with between 640,000-690,000 Floridians taking on seasonal jobs with retailers.
“The holiday shopping season means tens of thousands of jobs for Floridians, and much needed income for families this time of year,” Miller said. “Every temporary job has the possibility to turn into a permanent one, and retail still remains the best industry for young, new or returning workers to find employment, learn valuable skills and grow themselves professionally.”
