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RETAIL TRACK: TOUGHT YULE TIDINGS
07/12/2008
Every year, the music industry looks forward to the holiday selling season to pull its fat out of the fire.
Add to that the current environment where the music industry faces its second double-digit physical sales decline in a row and the slowing economy looms large in the minds of shoppers and it's not surprising that music merchandisers are lowering their expectations for the year-end holidays.
With rising fuel prices, the continued decline in the real estate market, weak retail sales and an overall slumping economy, things don't look bright for this year's holiday season, particularly for conventional retail, which will likely see an accelerating shift in shopping dollars to online retailers, says Thomas Harpointner, CEO of AIS Media, an e-business solutions company.
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