Retail analysts must not spend much time in the malls because if they did, they would know not to have such high expectations of consumers who are willing to wait in a queue line to save less than $100 at the Apple store on tax free weekend. July same store sales may have overwhelmingly disappointed analysts, but for those who have had their expectation dials tuned to consuming reality in 2010, July results were neither surprising nor unexpected.
Expensive credit minus a plentiful job market multiplied by a newfound frugality yielded little or no consuming without sales, discounts, promotions or the motivation of an obligatory holiday in the first six month of 2010. Only analysts who still believe in their own "pent up demand" fairy tale were disappointed in the July 2010 same store sales. To everyone else, July same store sales told the same sales story that consumers have been telling every month. More shopping doesn't mean more spending and splurging this month is balanced by saving next month. Consumers have proven many times this year that... read more >>
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