After almost two years of pandemic gloom, American consumers appear primed to spend generously for the holidays in spite of worries over inflation and item availability.
“All indications are that US consumers are looking to celebrate the holiday season,” Target's chief executive Brian Cornell said last week.
“They are anxious to get together with family and friends.”
But petrol prices are up more than 60 per cent from a year ago and this year's Thanksgiving feast will cost an estimated 14 per cent more, said the American Farm Bureau Federation, an agricultural lobbying group.
Shortages are another concern.
In an earnings conference call last week, Target, Walmart and other big-box retailers offered reassurances that they would have sufficient inventory after recent worries that supply chain snafus would leave Christmas stockings empty.
US President Joe Biden said that co-ordination between the government and private companies will help keep shelves.
“That's good news for those mums and dads worried about whether their Christmas gifts will be available. It goes for everything from bicycles to ice skates,” Mr Biden said.
But there will certainly be gaps, with popular gaming consoles and some electronics from Apple and other companies especially hard to find.
That's good news for those mums and dads worried about whether their Christmas gifts will be available. It goes for everything from bicycles to ice skates
Joe Biden,
US President
Worries about shortages began building significantly in October, when the White House announced an initiative to shift key supply chain infrastructure to 24-hour service following delays at West Coast ports.
Mr Biden said that the number of containers blocking docks are down by a third, while shipping prices are down by a quarter.
There have been some signs of progress since then. The Port of Los Angeles last week reported a 35 per cent drop in the number of containers that have been stuck there for nine days or longer.
The National Retail Federation projects holiday sales will grow between 8.5 and 10.5 per cent, noting that a “stellar” season rests in part on whether retailers can replenish merchandise.
Retailers have taken extraordinary steps this season, such as importing and storing items earlier than usual, ordering shipments by air freight and in some cases even chartering their own vessels.
A prolonged 'Black Friday'
Retailers started promoting online holiday “deals” as early as September this year, as the supply chain logjam threatened to block them from bringing new merchandise from Asia into the US in the weeks before the Christmas holiday.
Also, some merchants have reduced Black Friday store hours as shoppers turn to online shopping.
A Reuters/Ipsos poll of about 1,000 people showed that more than a fifth of shoppers said they planned to buy gifts primarily online this year, while only 12 per cent said they would mainly shop in stores.
Online sales on Black Friday itself are expected to increase by 5 per cent to $9.5 billion, the Adobe Digital Economy Index reported.
Walmart and Target both said they would invest more in same-day options, including the ability for shoppers to pick up merchandise ordered online.
To be sure, some retailers said they are preparing for brick-and-mortar stores to make a comeback.
“We’re seeing our customers return to in-store shopping,” William White, Walmart's chief marketing officer, told Reuters. Mr White also said Walmart has expanded its toy assortment by “more than double".
For Marc Ivan, a 23-year-old student in Philadelphia, going to stores is not a tradition he plans to give up, even though he said he will do most of his shopping online as early as possible this week.
“I'll still go out on Black Friday, just to do some casual shopping and hang out with friends,” he said.
Agencies contributed to this report
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
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Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
UAE currency: the story behind the money in your pockets
Where to buy
Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Two-step truce
The UN-brokered ceasefire deal for Hodeidah will be implemented in two stages, with the first to be completed before the New Year begins, according to the Arab Coalition supporting the Yemeni government.
By midnight on December 31, the Houthi rebels will have to withdraw from the ports of Hodeidah, Ras Issa and Al Saqef, coalition officials told The National.
The second stage will be the complete withdrawal of all pro-government forces and rebels from Hodeidah city, to be completed by midnight on January 7.
The process is to be overseen by a Redeployment Co-ordination Committee (RCC) comprising UN monitors and representatives of the government and the rebels.
The agreement also calls the deployment of UN-supervised neutral forces in the city and the establishment of humanitarian corridors to ensure distribution of aid across the country.
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Carzaty%2C%20now%20Kavak%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3ECarzaty%20launched%20in%202018%2C%20Kavak%20in%20the%20GCC%20launched%20in%202022%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20140%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Automotive%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3ECarzaty%20raised%20%246m%20in%20equity%20and%20%244m%20in%20debt%3B%20Kavak%20plans%20%24130m%20investment%20in%20the%20GCC%3C%2Fp%3E%0A
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
