Ohio Holiday Sales Forecast Exceeds National Outlook According to Ohio-Specific Holiday Retail Forecast

COLUMBUS, Ohio, Nov. 22, 2010 /PRNewswire/ -- Holiday spending in Ohio will increase at a higher rate than the national average.

Those are the findings of "Holiday Sales Forecast," a report prepared for Focus On Ohio's Future by the Economics Center at the University of Cincinnati.

"Focus On Ohio's Future was created to provide insightful research relating to Ohio's retail sector and Ohio's overall economy," said Gordon Gough, executive vice president, Ohio Council Retail Merchants.

"This initial report will provide a valuable perspective to help business leaders, consumers and other leaders as we look for new ways to grow Ohio's economy in the 21st century."

"Ohio holiday spending has not been studied to this point," added Jeff Rexhausen, the Economics Center's research project manager. "This document mixes national trends with what we know about Ohio to create a more specific view of a topic we all care about this time of year."

Nationally, the Economics Center projects a 2.49 percent increase in US holiday spending. For Ohio, the Economics Center projects a 2.55 percent increase in retail spending for November and December of this year, compared to last year. That's an increase of more than $20 million consumers will spend and the best holiday spending results since 2007.

"2010 holiday spending amounts to about one fifth of the total Ohio retail sales expected for the year, and as much as 30 percent for some businesses," Rexhausen said.

The report attributes steady rise in employment, low inflation and a trend in higher taxable sales figures for the increased sales outlook. It also suggests Ohio's uncertain economic conditions coupled with negligible population growth prevented the sales numbers from being even higher.

"Families of various incomes continue to live paycheck to paycheck," said John McGough, Executive Director, Focus On Ohio's Future. "The trends we learned of in this report suggest many shoppers continue to pay for items with cash instead of credit."

The full report is available at www.focusonohiosfuture.org. McGough said Focus On Ohio's Future plans additional research on consumer credit for 2011.

Focus On Ohio's Future is a not-for-profit 501(c) (4) entity powered by the Ohio Council of Retail Merchants.

About The Report

This analysis provides Ohio-specific insights, rather than relying solely on national patterns. While national data can be informative, Ohio's population differs from the nation as a whole in some important ways. These differences can have an influence on the application of national data to the specific case of Ohio. The holiday retail spending forecast highlights these differences.

About Focus on Ohio's Future

Focus On Ohio's Future (FOOF) is a not-for-profit 501(c) (4) entity powered by the Ohio Council of Retail Merchants. The mission of Focus on Ohio's Future is to provide insightful research relating to Ohio's retail sector and Ohio's overall economy that will aide businesses looking to locate or expand within Ohio. Focus On Ohio's Future seeks to increase the awareness and impact of Ohio as a retail and distribution hub and provide a valuable perspective to business leaders, consumers, government officials and other stakeholders as they look for new ways to grow Ohio's economy in the 21st century.

SOURCE Focus On Ohio's Future