Consumers are expected to splurge slightly less as they spend for Mother's Day this year. According to the National Retail Federation’s 2014 Mother’s Day Spending Survey conducted by Prosper Insights & Analytics, Americans will spend an average of $162.94 on mom this year, down from a survey high of $168.94 last year. Total spending is expected to reach $19.9 billion.
This year’s retail-industry sales are expected to increase 4.1%, up from 3.7% in 2013, according to the National Retail Federation’s 2014 economic forecast. Furthermore, online sales are expected to grow between 9% and 12%. The forecast includes traditional retail categories, such as specialty stores.
As the economy improves at a gradual-but-steady pace, retailers can expect moderate gains this holiday season, Deloitte forecasts.
Top beauty retailers offer expert advice on succeeding in a new economic climate.
Amidst news of volatile stock markets, and job and real estate reports arose positive statistics for U.S. retailers in 2011. U.S. retail and food services sales were up 8% July 2011 through September 2011, as compared with the same period the prior year, according to the U.S. Census Bureau. Health and personal-care store sales in particular rose 4.5% in the same time range.
Experts say retailers have the advantage in today’s marketplace. Here’s why.
In recent years, retailers have been confronted by behemoth impacts on the marketplace, namely the global economy and the steep rise of the Technology Age. Both have drastically shifted the customer-retailer relationship as consumers have subsequently led by virtue of their lower budgets and quick grasp of technological advantages, leaving retailers to follow them for the sake of their profits and edge over their competition.
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