Levin tenant survey: Most are optimistic for the holidays
North Plainfield, N.J. -- Shopping center owner and manager Levin Management Corp., in its annual pre-holiday survey, found that more than a third of its retail tenants predict 2011 sales will be higher than 2010’s, while just 18.9% project a drop in sales for the 2011 holiday season.
The remaining 44.2% expect this year’s holiday sales to mirror last year’s.
The Levin survey, conducted in October and November, explored a number of anticipated trends and comparisons this year among tenants based at its 12.5 million-sq.-ft. retail portfolio in New Jersey, Pennsylvania, New York and throughout the northeast. Some of the findings indicate retailers will continue to offer markdowns to meet demand; inventories are holding steady, and a little more than half said they expect shoppers to spend at a higher rate during the holiday season.
“Although nearly 62% of responders in a 2010 post-holiday survey by Levin reported that 2010 holiday sales actually were lower or the same as 2009, the attitude among retailers i