Area businesses report steady holiday shopping despite economic worry

By: Noah Diedrich (Keene Sentinel)

Take it from the giant Christmas tree in Keene’s Central Square: The winter holiday season is here.

For many area businesses, it’s the busiest time of year, as Christmas and Hanukkah shoppers flood stores and shopping centers looking for the perfect gift. And amid mixed messaging regarding the economy — with some estimates predicting record-high spending despite concerns about affordability — several locally owned companies report it’s mostly business as usual this holiday season.

Just ask Emerson Sistare, owner of the Toadstool Bookshop locations in Keene and Peterborough. He said he hasn’t seen much of a difference between this year and previous years.

At the Keene store, there are about 110 transactions a day for most of the year, Sistare said. But during the holiday season, which he called “a critically important time of year,” that number spikes to anywhere between 220 and 275 per day.

Gift cards are the most popular item at the store during that time; their sales increase six-fold from November to December, according to Sistare.

He said it’s important for people in smaller communities to shop locally as opposed to going to a chain store, or perusing online — especially during the holiday season.

“The in-person experience is the lifeblood and heartbeat of the downtown and Main Street,” he said. “The people that own these businesses — they live here ... It’s an important and positive circular loop.”

The National Retail Federation is predicting holiday spending to break $1 trillion for the first time this year, despite lingering worries from consumers, the organization announced Dec. 2.

“American consumers may be cautious in sentiment, yet remain fundamentally strong and continue to drive U.S. economic activity,” President and CEO Matthew Shay says in a news release.

On the other hand, roughly 40 percent of New Hampshire residents say they have just enough money to cover their holiday shopping, with another quarter reporting that they don’t have enough, according to a Nov. 25 University of New Hampshire poll.

The same study shows that just over half of residents plan to spend the same amount on holiday shopping, while 36 percent plan to spend less.

Increases in the prices of everyday items, as well as concerns about unemployment and stagnant wages, have contributed to some trepidation among consumers, according to Cory Morrison, executive director of the Monadnock Economic Development Corp. He said that, since the COVID-19 pandemic, the national economy was generally experiencing growth and falling unemployment, but 2025 has proved to be a reversal.

“I think there’s always going to be some level of gift giving, but if you don’t have that disposable income, you don’t have money to buy gifts,” he said.

Still, Ted’s Shoe and Sport on Keene’s Main Street is faring well thus far — it recently had its most successful Friday after Thanksgiving ever, according to owner Ted McGreer.

Last week’s snowstorm has helped the store, sparking a timely interest in boots and other winter footwear, McGreer said.

But December is only the shoe shop’s fourth busiest month — May and August top the list, with spring and back-to-school sales generating plenty of customers.

“When you’re a brick-and-mortar in this age trying to compete with bigger stores and your vendors, every month matters,” he said.

Across the street at Good Fortune Jewelry, business doesn’t fluctuate much for the holiday season, owner Roger Weinreich said. That’s because the jeweler deals in pre-owned pieces, a market that is fairly stable year-round.

Nonetheless, the holiday season does bring some new shoppers, he said.

“We like the holidays, but we don’t count on them the way retail stores do,” he said.

Rising gold and silver prices have made this year very interesting, Weinreich noted. His store has seen a lot of visitors selling their gold and silver goods, which is typically an indicator that he will see more buying.

The pawn store aspect of Good Fortune is seeing increased business, which Weinreich thinks might be an indicator of affordability struggles.

“In this kind of economy, it’s no wonder people are seeking us out,” he said.

The store also deals in silver coins and bullion, too, and the 1 ounce variety of the former are popular stocking stuffers, Weinreich said.

Morrison, of the Monadnock Economic Development Corp., said he thinks economic turbulence could potentially lead to more consumers shopping online, which typically offers lower prices.

But mom-and-pop shops have other advantages. Shipping delays and last-minute buying typically benefit small business, which are more likely to have products on hand, Morrison said. Small businesses are also increasingly adopting e-commerce methods.

Toadstool, Ted’s and Good Fortune all have e-commerce platforms, with varying degrees of their sales coming from the digital option, the owners said.

Further up Main Street, Jason Smart, owner of Ye Goodie Shop, said his store is also on pace for a typical holiday.

Seasonal shopping is extremely important for Smart’s business, he said, so much so that the shop has almost become a completely holiday-centric business.

“We’re a candy store — we cater to holidays,” he said.

Sales usually pick up closer to Christmas, Smart said, given that chocolate is not a gift that can sit under a Christmas tree for a month in advance.

The Christmas season can be a bit unpredictable for the candy store, which has been in business since 1931, Smart said. Oftentimes, customers come in looking for five or six custom boxes of sweets at a time.

One confection that Smart said customers gravitate toward this time of year is the shop’s chocolate turtles — a reptile-shaped ring of cashew or pecan nuts topped with caramel or dark chocolate.

“They’re the fastest moving turtles in New Hampshire,” he joked. “We can’t stop them moving out of the door.”

Noah Diedrich can be reached at 603-355-8569, or ndiedrich@keenesentinel.com

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