Consumer spending is likely to take a back seat in the face of ballooning energy bills, nominal increase in salaries and a restrained housing market, activating retailers to think of novel ways to entice shoppers.
Shoppers are unlikely to spend on their home, there by affecting sales of home furnishing stores.
Meanwhile, sales of handbags and accessories would be satisfactory.
Customers are purchasing approximately four handbags a year, compared to two in 2000, reported retailer Coach.
These days it was not enough to have your shop decked up with appropriate stocks but necessary to include tea rooms and theater performances too, informed Michael Gould, Chairman and Chief Executive of Bloomingdale.
This year, a gain of 4.7 percent has been forecast for retail sales, which is less than 6.1 percent growth of last year.
Gain of 3 percent is predicted this year, which is below the 3.8 percent increase of 2005 by Michael Niemira, Chief Economist at The International Council of Shopping Centers.
marketing@alchempro.com
