Retail Sales Spike
Here is to the door busters, roll backs, super slasher savings and all the other cutesy promotions that dominated the sales floor in November.
According to the Commerce Department, retail sales ticked up 0.8% in November, which is about 33% more than what economists predicted. According to the National Retail Federation, the November-December sales spike should be the biggest since 2006.
Much of this growth, modest as it may be, can be attributed to retailers aggressively chopping prices before most folks even bought their turkeys. Companies that reported surpassing sales goals include Macy’s, J.C. Penney, Target, Costco and even Home Depot.
This means that if you pumped the gas on seasonal hiring – unsure how customer traffic would turn out – your decision to go ahead and ramp up holiday hires paid off with a well-oiled front line. And if you balked at the prospects of higher than expected sales activity, we hope that you’ve recovered. There is still time to hire for Dec. 26 unless you prefer to bring in the new year personally re-boxing and re-shelving the store.
It’s a little early, but Happy New Year!