NEW YORK–Eighty percent of retail executives said they expect their holiday sales to either increase or remain the same as last year, according to CIT’s third annual Retail Finance Outlook.
The survey also queried the executives about their predictions for the more notable shopping days of the season. More than one-fourth of the participants expect Black Friday sales to increase this year, more than one-fourth have the same expectation for Cyber Monday sales and nearly one-fourth expect sales on Super Saturday (Dec. 24) to be up over last year.
Retailers will also be shifting more of their marketing dollars from old media to new media, such as social media campaigns, the study found. More than two-thirds (68 percent) said they have upped their marketing and deals through social-media channels, including Facebook and Twitter.