Visa Data Points to Good Holiday Shopping Season
Visa USA has announced its retail predictions for the 2005 holiday season.
Despite recent natural disasters and increasing energy costs, Visa USA's economist, Wayne Best, predicts that the 2005 holiday season in the United States will be moderate to strong, particularly as wage and income growth is expected to continue through the end of the year.
"Currently, our economy is on good footing and should remain steady in the coming months. As consumers continue to feel good about their financial situations, bolstered by sustained wage and income growth, it should translate into a good holiday season for retailers," said Wayne Best, senior vice president of business and economic analysis for Visa USA. "Much will depend on whether Americans will see fuel and oil prices start to level off - or even decrease - giving consumers access to more disposable income, in time for the holidays."Based on data from Visa's SpendTrak report, Best adds, "Americans are looking for value and have become increasingly savvy at finding a good deal on the Internet or at traditional retail outlets. This is especially true when it comes to holiday travel - consumers are looking for, and booking, their holiday transportation a lot earlier this year."
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