January 09 Retail Sales Up 1%
Great news for retailers! There is hope that retail will survive in our struggling economy. Government research was released Thursday, February 12th, that stated that retail sales were unexpectedly up 1% in January. The Commerce Department stated that this is the first time in seven months that retail sales have rose, offering retailers hope that consumers are shopping.
Reuters had expected January sales to be down by 0.8% for January, so this welcome surprise has people talking. Helping to credit this increase was the significant amount of sales taking place in January from marked down holiday items and post-holiday discounts.
To keep this momemtum alive, make sure to keep your sales going and markdowns moving. Customers aren’t buying too far in advance like they use to, therefore spring items aren’t just yet on their must have lists. But shoppers are taking notice of sales and looking for deals out there. Continue to offer them while still getting your customers excited for spring. One idea may be to offer an additional percentage off a sale item with the purchase of a “just arrived” or spring item. Be creative and be proactive! There are customers shopping – you just need to make sure they are shopping with you!
What's your reaction?
Three Prevalent Threats A...
Online shopping continues to grow as a significant part of modern commerce. Data from Forbes Advisor
Unlock 50% Off Your First...
As an independent retailer, we know you're always on the lookout for exciting new brands and
Modern Financing Strategi...
Fluctuations in the market, rising competition, and rapid changes in technology all contribute to a tumultuous
Ruthie
That’s good to hear! I know that my sales in January were pretty close to my December sales – and I’ve already beat them this month! Woohoo!
Ruthie
Kool Kidz Boutique
I just hope it continues.
Eric Busboom
I’ve heard similar stories from some of the retailers we’ve been interviewing. ( http://cli.gs/spRUG5 ) Although we didn’t get any numbers, they were saying that December and January were good months for them, even compared to previous years.
Let’s hope that the 1% is not an artifact of the consumers shifting consumption from one month to another and is an actual upward trend in sales. There are a lot of things that would produce a transient uptick in an otherwise downward trend, so a lot of economists are skeptical of this data. But, if it at least signals a bottom of the 6-month slide in sales, it is warmly welcomed.