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Last updated on Friday, October 30, 2009
(BLOOMINGTON, IN) - The Center for Education and Research in Retailing at Indiana University’s Kelley School of Business is projecting a 1% decline in holiday retail sales, compared to last year.
The center estimates sales in November and December will total $437 billion.
Director Theresa Williams says last year retailers were forced to slash prices by as much as 70% due to the weak economy.
She says even though credit markets remain tight and unemployment rates are still high, similar discounts are not expected during this holiday season.
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