Clothing Sales In The US Year-End Shopping Season Are Expected To Grow By 7.6%
Customer Growth Partners, a retail consultant, points out that American consumers do not plan to tighten their purse strings in the holiday shopping season at the end of the year. It is estimated that sales in the holiday shopping season from November to December will grow by 6.5% over the same period last year, reaching 554 billion US dollars in November.
Such a forecast is two times higher than the market generally estimated 2.5% to 3%, and is the best performance since the 6.9% growth in 2004.
Johnson, President of customer growing company, pointed out that the result was based on five signs. First, personal disposable income has grown by 4% since last year. Second, compared to the savings rate of 8.2% in 2009, the savings rate has dropped to about 4.5%, and tends to normalize. Third, the ratio of household income to debt service decreased from 17% in 2007 to 11%. Fourth, there has been a backlog of considerable demand for previously delayed purchases. Fifth, consumers are attracted by new products.
Johnson said that since 2007, families in the United States have experienced a period of retrenchment. Although 91% of households have jobs, financial operations are substantially deleveraging.
Even with the rise in oil prices, about 50 billion US dollars in cash flow is being generated every month, and disposable income continues to rise. Now consumers are prepared to spend their savings strategically and wisely, which will be a very pleasant holiday for most families, as well as for retailers.
Johnson expects sales of clothing stores to grow by 7.6% during the peak shopping season at the end of the year, exceeding other retail stores. Boutique buying will also be strong, and the performance of dollar stores, online stores and discount retailers will be very bright.
Johnson's prediction excludes cars, auto parts, gasoline, fuel, food services and restaurants, but includes online stores and direct sales. Because his past predictions are very accurate, it is worth noting.
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