From the Tennessean (11/22/07): "Although holiday sales are expected to increase retailers' overall sales, that increase isn't as large as it has been in recent years. The reason: economic obstacles.
"'Higher gas prices, a slowing national economy and continuing problems in the housing market' are a few of the reasons, said David Penn, director of the Business and Economic Research Center at MTSU. Therefore, 'households have less discretionary income to spend,' said Penn.
"To combat these obstacles, many retailers have offered pre-Thanksgiving sales. Many retailers have indicated they are overstocked, Penn said, allowing consumers to 'get some really big deals.'
"Retailers, such as discount and department stores that cater to low- and middle-income consumers, will be the ones hardest hit by this decrease, according to the National Retail Federation. However, 'large retailers can weather that storm,' said Penn."
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