DS Index: Independent Stores Drag CE Retail Confidence Down for Third Straight Month
The Dealerscope CE Retail Confidence Index continued its downward trend, falling another five points in July to reach another record low. In its first month open to the entire retail audience of Dealerscope, the DS Index fell to 177.45, the third straight month that CE retailers’ confidence has dropped.
This being the first full year of data collected on CE retail confidence, Dealerscope does not have historical data to look back on, but anecdotal information collected from CE retailers points towards 2017 being an unexpectedly difficult year. CE retailers, particularly those who run independent shops (and likely with a custom installation business on the side) noted leading into the summer that they expected sales and foot traffic to pick up as weather improved. But it seems that just hasn’t happened yet.
Based on feedback provided in the survey, independent retailers have a general sense that consumer confidence is low and the economy is uneasy—despite the fact the Federal Reserve has raised interest rates multiple times this year, signaling their confidence level that the economy is stable and even possibly growing.