The Wall Street Journal reported on Friday that retail sales rose in November, with low gas prices and slowing auto sales contributing to the retail uptick. The takeaway by economic experts is that while consumers don’t have extra money or credit to spend, they are still spending — just don’t expect the big credit-based purchases that might have come in previous years.
Trace
Shelton
—
Editor-in-Chief
of INDESIGN Magazine and Contributing Editor of INSTORE.
T
he Wall Street Journal reported on Friday that retail sales rose in November, with low gas prices and slowing auto sales contributing to the retail uptick. The takeaway by economic experts is that while consumers don’t have extra money or credit to spend, they are still spending — just don’t expect the big credit-based purchases that might have come in previous years.
While wages are up slightly this year, healthcare costs and rising rents have negated any gains that consumers might have felt, and as a result, people are putting more away into savings than they have since 2012. That said, they are still spending slightly more on holiday gifts than they did last year.
Retailers also report that there is some consumer fatigue related to Black Friday — especially among millennials — and so consumers are spreading their buying out over the entire season. Most years see a decline in spending during the first couple of weeks in December after Black Friday, but this year, spending has been stronger during that time. As a result, retailers can expect steady buying all the way through Dec. 24. Hopefully, that will bring jewelry retailers an extra measure of gusto as you begin the final, crucial 10 days of the holiday selling season.
For the entire Wall Street Journal article, click here.
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