There seems to be differing opinions on how the retail sector will perform in 2012. While a recent Deloitte report offered a not-so-cheery forecast, new research from Customer Growth Partners suggests the opposite.<\/p>\n
According to CGP's report, retail sales are expected to grow by 5.7 percent in 2012. Falling household and credit debt levels and higher savings rates will encourage consumers to spend more money. Credit is down almost 20 percent from its 2008 peak and was flat during the fourth quarter of 2011.<\/p>\n
"After sharply ratcheting down expenditures … consumers have indeed resumed spending, amazingly enough, at about the same 5 percent year-over-year growth rate seen prior to the recession," said Craig Johnson, president of Customer Growth Partners. "In short, American consumers have now completed a historic 'reset' fueling the strongest retail rebound seen in decades."<\/p>\n
According to a separate report from IBM, male consumers may be leading the charge. The firm believes men's apparel was the biggest sales driver in 2011 and expects that trend to continue into 2012.<\/p>\n","protected":false},"excerpt":{"rendered":"
There seems to be differing opinions on how the retail sector will perform in 2012. Continue reading