Retail Forward: Discount Stores Contribute to Lagging November Sales
According to Retail Forward, same store sales growth dipped to 2.3 percent based on November results reported by 60 retailers on Wednesday. While drug stores, department stores and warehouse clubs posted the strongest outcomes, the overall slump is credited to poor performance from discount department stores, apparel and accessory stores and dollar stores. According to a recent ShopperScape survey conducted by Retail Forward, only 55 percent of consumers plan on shopping at discount and/or supercenter stores, such as Wal-Mart, compared to 61 percent last year. Non-store retailers, on the other hand, are showing promise with 43 percent of shoppers planning to shop online compared to 36 percent last year and 16 percent planning to shop by catalog as compared to 13 percent last year.
Regardless, the ShopperScape survey predicts a solid holiday shopping season. 52 percent of shoppers plan on spending as much this year on holiday gifts as last year, compared to 45 percent last year. In 2005, 35 percent of shoppers said they would spend less on holiday gifts than they did in the previous year, while this year that number went down to 29 percent. The $650 average that consumers plan to spend on gifts this year remains roughly the same from last year.
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