July 9, 2008 —The Wall Street Journal, "Retailers Recalibrate Pitch To Strapped Consumers"
“This environment presents opportunities to capitalize on,” says Frank Badillo, senior economist at TNS Retail Forward, a retail-marketing firm in Columbus, Ohio. A recent study by the firm found that about 20% of the nation’s consumers are changing where they shop because of job or other economic worries.
June 25, 2008 —MSNBC.com, "Economists worrying about holiday shopping"
“We are concerned about spending in the second half,” agreed Frank Badillo, senior retail economist at consulting company Retail Forward. He noted that excluding the benefits from rebate checks, he expects sales to be weaker in coming months. If job conditions worsen, he said, the total holiday sales growth could be below last year’s level, which according to the National Retail Federation was the weakest growth since 2002.
With most checks hitting shoppers' hands in July, Retail Forward projects 6% year-over-year sales growth for the upcoming third quarter, half of which the company is attributing to the stimulus checks.
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