“Will the new Apple iPhone 6 be the Grinch that stole a bite out of gift sales from traditional retailers this holiday season?” Marilyn Much reports for Investor’s Business Daily. “Some experts say that it may well be the case with the new Apple (NASDAQ:AAPL) smartphone, which is not only pricey but said to be the hottest new product to hit the shelves for the Christmas period.”
“Ken Perkins, president of Retail Metrics, says that spending on the iPhone 6 and iPhone 6 Plus could affect consumer discretionary spending on other traditional gifts and ‘adversely affect’ other retailers by taking sales away from them,” Much reports. “Brian Sozzi, CEO of Belus Capital Advisors, concurs that the iPhone 6 will “siphon sales” from traditional clothing retailers. ‘It’s a big-ticket purchase, and I think that people who aren’t ordering it now will have it on their wish lists for Christmas,’ he said.”
“Sozzi expects Apple gift cards to be a hit this holiday because the Apple Watch, at a starting price of $349, will be available in early 2015,” Much reports. “Marshal Cohen, chief industry analyst for The NPD Group, says that other than the iPhone 6, there’s nothing new and exciting “that’s jumping out” to consumers this holiday.”
More Much 😉 in the full article here.
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