Every retailer needs to be concerned with the latest trends to make sure they are able to meet the demand of any and all consumers who could be coming through the door. If recent figures are to be believed, merchants should be preparing for a strong holiday season.
Retail Metrics released their study of October sales numbers which found a 3.7 percent increase in same-show sales over the same time period last year. It also was a significant boost from the 3 percent increase that was predicted beforehand.
Another study from Thomson Reuter s found that the increase was actually larger with a same-store sales increase of 4 percent. These are just the average numbers, as some retailers, like Abercrombie & Fitch, posted a 14 percent loss.
A recent article from the LA Times examined the numbers and why merchants should be paying attention to them.
“Analysts had been worried that October would continue this year’s trend of disappointing sales. Retailers are closely parsing any sales data, looking for clues about the coming holiday season, which accounts for as much as 40 percent of annual revenue for some companies,” the article reads.
Retailers are hoping that the strong numbers experienced in October are a sign of things to come. If they are, merchants will be faced with long lines and constantly ringing cash registers. Business owners that have upgraded their POS equipment through Visual Retail Plus will have a much easier time keeping up with the demand and increased traffic that will be created from this time of year due to the hot and cold reports and various sales analysis reports that can be narrowed for comparison by specific dates. Be sure and contact us at Visual Retail Plus for exclusive access to our free demo of our Retail POS System.