While shopping malls, clothing stores, entertainment venues and slews of other businesses might be hurt by the destruction and aftermath from Hurricane Sandy, other businesses are expected to have sharp spikes in business from the punishing wind, rain and in some places, heavy snow.
“The overall impact is going to be a negative for November retail sales, with store closings and consumers hunkering down at home during the storm,” Krissy Klinger, a senior international business meteorologist for Weather Trends International, told MarketWatch.
Home-improvement superstores like Home Depot and Lowe’s are expecting large upticks in sales, from either those preparing for the worst or those who have already felt the wrath of surging Sandy. Online sales for things like clothing should also reap some benefits from the devastation, and supermarkets, those still able to operate with power, are expected to be quite busy.
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“Mall-based stores will probably take a big hit as consumers focused on discount retailers (like Wal-Mart and Target) and home centers (including Lowe’s and Home Depot), basically steering shoppers clear of the malls,” Klinger said.
Klinger believes even though some retail stores will see added sales, the overall month of October will trend downwards in part because of lost last-minute Halloween traffic.
October was already expected to be a weak month, according to Forbes and the storm just made a bad situation worse.
Most hurt by the storm include small stores, malls and the automobile industry. This is a crucial month for car sales, because October is traditionally when the automotive industry rolls out next year’s models, Forbes reported.
The November elections, both national and local, will definitely feel the pinch from the storms, as candidates and their flocks of volunteers will not be able to hold events. Even television ads could be impacted, as local television news shows supplant regularly scheduled programming and often run with fewer ads.
The travel industry on the surface is feeling the affects of Sandy with cancelled flights rampant though much of the eastern part of the nation, but since the time between Labor Day and the week before Thanksgiving is the slowest time for airlines, it won’t be as bad as might be imagined.
In addition, hotels in affected areas that have power will find themselves filled by homeowners whose own power has been lost to the winds, rain and floods.
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