Sales Grew in November

According to the U.S. Department of Commerce, sales for sporting goods, hobby, book and music stores increased 7.9% over last year’s unadjusted year-over-year sales. The National Retail Sales Federation (NRF) is still predicting a 4.1 percent increase* over last year’s holiday sales as well.

Why the increase in sales this holiday season? Consumers appear more optimistic this year, even after the northeast suffered Sandy’s wrath, and the entire nation is facing the fiscal cliff. The main factors that are helping consumers to be more optimistic are; lower prices for gas, stable employment rates and a recovering housing market.

Consumers are still not going to spend like they have in years past, but they are willing to spend when they find a bargain. Shoppers are also looking for something they cannot find everywhere else. Do you have that? Finally, don’t overlook gift cards and their ability to generate revenue for your business. If you have a unique idea that you are using to drive business, share it with us.

* NRF defines “holiday sales” as retail industry sales in the months of November and December. Retail industry sales include most traditional retail categories including non-store, auto parts and accessories stores, discounters, department stores, grocery stores, and specialty stores, and excludes sales at automotive dealers, gas stations, and restaurants.