Retail sales in the U.S. fell in May for a second month as slower employment and subdued wage gains damped demand, a sign the world's largest economy is cooling.
The 0.2 percent decrease followed a similar decline in April that was previously reported as a gain, Commerce Department figures showed today in Washington. Last month's drop matched the median forecast of 79 economists surveyed by Bloomberg News. Sales excluding automobiles slumped by the most in two years.
Limited gains in payrolls and unemployment exceeding 8 percent signal it'll be tough for consumer spending
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Reaping ROI from Social Strategies
June 13, 2012
Facebook and other social media platforms have emerged as an important consumer shopping resource that CE retailers can’t ignore. A recent CEA survey found that eight out of 10 social media users who researched electronics prior to purchase found Facebook and other social sites useful in helping them make buying decisions. A quarter of all social media users, and two-thirds of users who spend more than 13.5 hours a week on social sites, said they always or almost always refer to the sites before buying CE products.
CE Retailers See Benefits
While not everyone has figured out the perfect strategy for their business, successful retailers understand the value of social media and the important role it plays in engaging customers and building relationships with them. But there is no magic bullet. Retailers and retail experts say a viable social media strategy is about knowing your customers and finding the right message and medium to engage them. It’s also about gaining insights into consumer interests, intentions, motivations and perceptions by looking at what they say and do on Facebook and other social platforms.
“The importance of social media is that consumers can access it when they want,” said Jeff Pearson, senior vice president of marketing for hhgregg, the Indianapolis-based chain with more than 200 stores in 17 states. “When you come to our website and our stores, we show you all the different ways you can stay connected with hhgregg, whether that means signing up for a rewards account, getting on our email list, liking us on Facebook, following us on Twitter or joining our Pinterest section. We want to engage with consumers however they want to engage with us and we want to be important in all those channels.”