Local businesses have not been immune to the stresses that companies nationwide have faced this year, but reports of a strong finish to the year have several local owners optimistic about the state of the local economy.
“What I heard about the Hometown Holiday Shopping Weekend was that businesses had a fabulous day Friday, and the rest of the week was really good,” said Betsy Jensen, International Falls Area Chamber of Commerce president.
The Hometown Holiday Shopping Weekend promotion took place the Friday and Saturday following Thanksgiving — Friday being dubbed “Black Friday” — and featured sale prices and expanded hours at several local businesses. The largest shopping weekend of the year had shoppers, even in International Falls, lined up at stores before sunrise to catch special prices and take advantage of extended shopping hours.
Jensen said that she recently spoke to four local companies, who had similar takes on the holiday shopping season and year-to-date sales figures.
Retailer 1 had a strong November, and holiday sales are going strong. Overall, owners said the sales are down 13 percent year to date (YTD), however this store was up last year over 2007. They felt they were up in 2008 over 2007 due to the Canadian dollar being at par a good portion of 2008.
Retailer 2 said sales were pretty steady — YTD sales are comparable with last year. Owners reported a good holiday shopping opener and open house.
Retailer 3 said the day after Thanksgiving and Saturday were absolutely out of sight with sales. Year to date they are down 9 percent. November 2009 was up from 2008. December is down slightly from 2008, so the business is hoping for sales to pick up this month. The company did buy less inventory in anticipation of sales not being as strong given the current economy.
Retailer 4 reportedly experienced sales down 7 percent YTD. It had a good November due to local promotions and the snow.
“One place said they were totally swamped,” said Jensen of a local restaurant, joking that hungry holiday shoppers must have needed respite from their search for Christmas presents.
“As usual, there is definite concern among all of our retailers for the first five months in 2010,” Jensen explained. “The Chamber is working on a January promotion during IceBox Days hoping to lure shoppers in for some ‘Cold Cash Sales.’”
