© 2024 WOSU Public Media
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

UC Researchers Predict Jolly Shopping Season

According to the 2015 Ohio Retail Holiday Forecast,prepared by the UC Economics Center, Cincinnati will have the biggest increase in Ohio holiday retail sales from 2014 to 2015 at 5.6 percent.

For the state, University of Cincinnati economists predict an average increase of 4.2 percent in November and December. The national average is 3.7 percent.

UC Researcher Chris Nicak thinks increased consumer confidence may have played a role in Cincinnati, "due to new buildings for retail options such as Liberty Center or investment in Central Business District. We have a really great revitalization of a lot of the architecture for buildings downtown as well as Over-the-Rhine."

Researchers considered a number of factors including:

  • A 4.5 percent unemployment rate, the lowest since 2006.
  • A 3 percent increase in wages from the first quarter 2014 to 2015.
  • Gas prices down 25 percent.
  • Housing prices up 4.8 percent.

In addition, economists suggest more people may decide to shop at a brick and mortar stores now that websites like Amazon are collecting sales tax in Ohio.

Copyright 2021 91.7 WVXU. To see more, visit 91.7 WVXU.

With more than 30 years of journalism experience in the Greater Cincinnati market, Ann Thompson brings a wealth of knowledge and expertise to her reporting. She has reported for WKRC, WCKY, WHIO-TV, Metro Networks and CBS/ABC Radio. Her work has been recognized by the Associated Press and the Society of Professional Journalists. In 2019 and 2011 A-P named her “Best Reporter” for large market radio in Ohio. She has won awards from the Association of Women in Communications and the Alliance for Women in Media. Ann reports regularly on science and technology in Focus on Technology.