Christmas came early for retailers when sales forecast figures universally increased after the release of November statistics.
Strong results and a recent stock market rally translated to a major move by The National Retail Federation – in the form of an increased December sales forecast of 3.3 percent growth from last year’s totals.
With the pressure to achieve 20 percent of annual sales in such a short amount of time, retailers have begun to breathe a small, but cautious sigh of relief after the consumer spending freeze of 2008, when the housing market collapsed.
Too bad the spending won’t last long – January means retailers should have pushed through their inventory in December to avoid overstock in the beginning of 2011.
Source: Washington Post, December 2010
