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Sunday, December 22, 2002

Stores filled on busiest retail day



By Randy Tucker
The Cincinnati Enquirer

[photo] The escalators at Kenwood Towne Centre are filled with shoppers on the busiest shopping day of the year in terms of sales.
(Tony Jones photo)
| ZOOM |
The holiday shopping crescendo reached its peak Saturday as last-minute shoppers hit Tristate stores and shopping malls in droves, jamming parking lots and crowding checkout lanes on what has become the busiest shopping day of the year.

The scene brought smiles to the faces of jittery retailers who were counting on the last-minute rush to help meet sales goals after struggling through a lull midway through the holiday shopping season. The period between Thanksgiving and Christmas is critical for most retailers because it can account for more than a third of their sales and more than half their profits for the year.

"We are very pleased with the turnout today,'' said Chris Dickinson, a manager at Rogers Jewelers at Kenwood Towne Centre, where shoppers stood elbow-to-elbow at the display cases. "It's been as busy as we expected.''

But the same crush of shoppers that gave retailers cause for celebration led some procrastinating consumers to cringe at thought of fighting the crowds to find gifts.

"It's just overwhelming,'' said Taryn Hutch, who headed to Kenwood on Saturday afternoon after delivering donated toys to needy kids earlier in the day. "Parking is atrocious. The stores are packed.''

It wasn't the first time the 27-year-old account executive at WRRM 98 has found herself in the company of frenzied shoppers just days before Christmas.

"I always wait until the last minute,'' Ms. Hutch said. "I guess I just haven't learned my lesson. But it's hard for me to get started right after Thanksgiving. When I get an early start, I'm not nearly as focused as I am now.''

Saturday's turnout in the stores was similar to the day after Thanksgiving - known in retail circles as Black Friday - but was more important for retailers.

While the Friday after Thanksgiving is usually busier in terms of foot traffic, it's only the fifth busiest day in terms of sales, with the Saturday before Christmas claiming the top spot for revenues.

Some experts predicted that retailers would need an even bigger boost this year on the Saturday before Christmas to offset the impact of lackluster sales and a holiday season shortened by six days because Thanksgiving fell later than usual.

But at least one analyst thinks retailers can breathe easy.

While final sales tallies won't be reported until Monday, retailers nationwide reported heavy traffic throughout the day Saturday, said Scott Krugman, a spokesman for the National Retail Federation, the nation's largest retail trade organization.

"There haven't been any surprises today,'' Mr. Krugman said Saturday. "It will still be the busiest shopping day of the year, and we think this weekend is really going to save the day for retailers.''

Mr. Krugman is confident most retailers will meet their sales targets mainly because expectations were low going into the holiday season.

National sales are expected to be up 3-4 percent over last year, generating estimated revenues of $209.3 billion.

But the sales gain would be the lowest in 10 years.

E-mail rtucker@enquirer.com



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