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Time - Man of the Year
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Time_Man_of_the_Year_Compact_Publishing_3YX-Disc-1_Compact_Publishing_1993.iso
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1993-04-08
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THE WEEK, Page 20BUSINESSHere Comes Santa
After three tough years, U.S. retailers are dreaming of a greener
Christmas
The news couldn't come at a better time for hard-pressed U.S.
retailers. Consumer confidence is strengthening. The cash
registers have been ringing busily since September. A sense of
optimism is in the air. As the all-important Christmas shopping
season nears, the industry is predicting that sales could be as
much as 5% above last year. In fact, this may be the best
holiday splurge in three years.
A happy combination of factors seems to be putting
shoppers in an expansive mood. Says Jack Schultz, president of
the National Retail Federation: "For one thing, the election is
over, and we're not hearing all that negative talk about the
economy anymore. People also seem to feel relieved that we no
longer have a gridlocked government." Unemployment, moreover,
has improved slightly. And since families have been gradually
whittling down their debts, they are feeling less pressure to
scrimp as the holidays approach. Ladies and gentlemen, start
your lists.