With one day to go before Christmas, it appears that many retailers won’t need last-minute shoppers to make this holiday season a merry one that’s better than last year.
Recent signs of a healthier economy along with national retail forecasts and reports from Hawaii malls suggest that consumers have quit worrying about the possibility of a double-dip recession and are spending more freely on holiday gifts.
Michael Parker, the owner of two jewelry stores at Pearlridge Center, said it’s clear to him a rebound has taken hold following flat holiday sales he had last year. Business at his Island Legacy and Michael’s Fine Jewelry stores is up an estimated 5 or 6 percent. "It’s good," he said. "It’s really positive."
Pearlridge Center General Manager Fred Paine said the vast majority of the 170 merchants at the state’s second-largest mall informally say holiday sales are up over last year.
"It’s a good holiday season," he said. "It’s the best in the last three. It’s more reminiscent of the good old days."
At the state’s largest shopping mall, Ala Moana Center, business is up year-to-date through October. Though sales reports for November aren’t in yet, senior marketing manager Scott Creel offered one positive indicator. He said he noticed customers on Wednesday filling up parking spaces that rarely get used on the top level of Nordstrom’s six-story garage.
On Thursday the mall was packed with people. Peter Cheng, a Chaminade University student from Makiki, was shopping with three friends. "I’m almost there," he said, referring to how close he was to finishing buying gifts.
Cheng actually started on the day after Thanksgiving, hitting the Iwilei Best Buy at 4 a.m., then traveling to Waikele Center by midmorning and then to Ala Moana later in the day.
Cheng spent more than five hours at Ala Moana on Thursday and had taken his shopping game to a new level. "I’m spending more — way more," he said.
Jeff Imamura, a teacher from Nuuanu, also spent most of the day at Ala Moana on Thursday and expected to spend more on gifts than he did last year — maybe $1,200.
"It’s a little bit more than what I thought," he said while loaded down with purchases that included bags from Coach and Brookstone hanging from one hand, a backpack-style bag from Apple slung over his shoulders and a roughly 3-square-foot wrapped box from Williams-Sonoma in his arms.
"This is my last real push before emergencies," Imamura said, anticipating that he would finish his holiday shopping on Friday in hopes of sparing the need to shop today.
Nationally, retail industry trade and research firms National Retail Federation and ShopperTrak recently raised projections for holiday spending to about a 4 percent increase from earlier projections of about 3 percent after stronger-than-anticipated November results.
"Consumer spending this holiday season has surpassed expectations, though many shoppers continue to stick to their budgets and buy only what they need," federation chief economist Jack Kleinhenz said in a statement.
Positive moves in national unemployment claims and a payroll tax extension are among events improving consumer confidence. In Hawaii the state government expects a budget surplus of about $200 million for the fiscal year ending in June.
Of course, positive developments aren’t being shared by everyone.
Reimar Muniz, general manager of sports and apparel stores Razor Sports and Razor Concepts at Pearlridge, said his sales are down about 10 percent from last year in part because of pressure from competitors to discount and big-box retailers and department stores staying open for extended hours that he can’t match.
"This is a challenging year," he said. Muniz, whose stores sell goods from Yu-Gi-Oh! cards to mixed-martial-arts equipment, said "Angry Birds" merchandise has been a big hit this holiday season but that he can’t stock enough to meet demand. "That’s the big draw right now," he said. "We can’t get enough of it."