Georgia's high consumer confidence will lead to a solid holiday season for retailers and local economies according to a report from the Georgia Retail Association (GRA).
GRA President and CEO, Randy Miller, suggests several factors are leading to increased holiday spending in Georgia.
“Georgia’s economy remains strong, plus a low unemployment rate and increased financial confidence among consumers should lead to a successful holiday shopping season for our 121,000 retailers statewide,” said Miller.
But it is not just in Georgia where Miller expects to see holiday spending up. American consumers are expected to spend an average of $935 on gifts this holiday season according to the National Retail Federation, meaning total spending in the U.S. is expected to increase to more than $655 billion.
Miller says this is great news for Georgia retailers who will be putting revenue back in to local jobs.
“The holiday shopping season means tens of thousands of jobs for Georgia residents, and much needed income for families this time of year,” said Miller. “Every temporary job has the possibility to turn into a permanent one, and retail still remains the best industry for young, new or returning workers to find employment, learn valuable skills and grow themselves professionally.”
Georgia’s retail industry totals more than 121,000 businesses which employ 1.3 million Georgians, and is responsible for one out of every four jobs.
The GRA states that the holiday shopping season accounts for 20-40 percent of a retailer’s annual sales. They also say there is a link between Georgia's steady year-over-year sales growth and an increasing stability in the state economy.
