Volume 1, Issue 3
Table of Contents

Cover Story:
The Tourist Trade
We need 'em, We want 'em, We got 'em.

Feature Story:
How'd He Do That?
Some words of advice from Union State Bank's Tom Hales

DEPARTMENTS:

Economics Roundup
• The Smart Investor
Bold moves can be exciting, but also fruitless
• Economic Viewpoint
The Fed's bark may be worse than its bite

Business Roundup
• Technology Viewpoint
Five steps to drive more traffic to your website
• The Fine Art of Advertising
Building a good campaign - how would you rate you?

Retail Round-Up
• Retailers Seeing Green
Shoppers plan to open their wallets this holiday season

Invest in Your Community
• Get The Ball Rolling
Learn how your company can help Meals on Wheels

Odds & Ends
• From The Publishers
• PR Patter

Dedicated Section:
Rockland Business Association:

The President’s Desk
Want to help Rockland and the business community gain some respect? Here's how.

Bridging Borders EXPO 2006
Recent Business-to-Business Expo a great success

RBA Happenings
• Other News
• Committee and Council Info
• Calendar of Events
• New Members

Retail Roundup:
Retailers Seeing Green as
Shoppers Plan to Spend $800
Each on Holidays
By Adrian Burke

Department stores to experience sales surge from young adults

 

With the average shopper expected to spend nearly $800 this year on holiday merchandise, Rockland retailers may be jingling all the way… to the bank.

The National Retail Federation’s 2006 Holiday Consumer Intentions and Actions Survey, conducted by BIGresearch, found that the average consumer plans to spend $791.10 this holiday season, up from $738.11 last year. Furthermore, shoppers will take advantage of sales and discounts during the holiday season to spend an additional $99.22 on themselves.

“With gas prices coming down and consumer sentiment on the rise, shoppers want to celebrate the holidays in style,” said NRF President and CEO Tracy Mullin. “Retailers will be sure to give consumers a reason to spend their extra disposable income in the stores with enticing incentives and special promotions.”

Consumers this year will shop at a variety of destinations for holiday gifts. While discount stores (70.3%) continue to be the most popular holiday shopping location, many people will also be shopping at specialty stores (48.4%), grocery stores (49.3%), drug stores (21.0%), and crafts or fabrics stores (20.5%). Additionally, nearly half (47.1%) of consumers said they plan to shop online this year, up from 36.0% three years ago.

This holiday season is also likely to bring good news for department stores, as 61.6% of shoppers plan to shop there for holiday items, up from 53.1% in 2003. Department stores are likely to see much of their traffic from young adults with a whopping 79.1% of 18-24 year-olds planning to shop at department stores for holiday merchandise, up from 72.9% last year and 65.9% in 2004.

“Young adults see the holiday season as a time to splurge, not skimp, on gifts for loved ones,” said Phil Rist, Vice President of Strategy for BIGresearch. “Department stores are likely to see a surge in sales from young consumers, positioning them well not only for the holiday season but for years to come.”

Though retailers had just begun holiday promotions at press time, many consumers have already started their Christmas shopping. According to the survey, 40.4% of consumers began their holiday shopping this year before Halloween.

Most shoppers’ wish lists will include traditional favorites, from clothing and accessories (53.3%) to books, CDs, DVDs, videos and video games (55.2%). Gift cards will also continue to be a popular request, as 52.8% of consumers would like to receive a gift card this year.

While the majority of shoppers continue to say that everyday low prices (14.2%) and sales or price discounts (36.5%) bring them into stores, more shoppers this year said that other factors like customer service (4.4%), product quality (12.4%), and merchandise selection (24.3%) are the most important when determining where to shop. Additionally, 6.5% of shoppers said they choose stores with the most convenient location.

NRF continues to forecast that holiday sales will increase 5.0% this year to $457.4 billion. RBD

It’s the world’s most expensive cigar — $440 each and it only comes in boxes of 40 — but is it the best?
Nobody knows because no one has smoked one.

The Cuban Havanas from the Cohiba brand are so precious that no one has actually lit one yet, although the blend was tested by a group of tasters before the cigar went into hand-made production, according to Norma Fernandez, the “torcedora” or cigar-roller from the El Laguito factory in Havana. The cigar was launched in Spain last month by Altadis, the exclusive importer of Cuban cigars into Spain.

When they say “hand-made,” they mean it. In this case there were only two hands involved and they both belong to Norma—she rolled all 4,000 cigars in the strictly limited edition—a labor of love.

The Cohiba “Behike,” named after a tribal chief of Cuba’s indigenous Taino tribe, can only be bought in special humidors — $18,860 for the 40 cigars. A lot of money. But maybe not for someone who can appreciate this delicate blend of the world’s most selected tobacco leaves.