Retailers anticipating strong consumer spending in upcoming months
Nov 30, 2012 Philip Burgess
Debt collection agencies will likely be busier than last year during the holiday season, as retailers expect this year's sales numbers to be much higher than those of 2011. "Importers continue to be optimistic about the most important quarter in the retail calendar," said Andrew Tananbaum, executive chairman at CBC. "It appears that retailers are purchasing and selling more merchandise than in 2011, which is not only encouraging for the sector, but for the overall economy." Nearly three-quarters of respondents to a recent Capital Business Credit survey believe the holiday shopping season will produce as many or more sales than a year ago. Many retailers already achieved strong numbers between August and October, with a combined 79 percent of companies reporting the same (27 percent) or increased (42 percent) sales compared to 2011. Meanwhile, another recent report by Deloitte echoed the positive sentiment, as the consumer spending index increased from 3.54 to 4.02 in October. Alison Paul, company vice chairman, said that omnichannel shoppers - people who make in-store purchases and electronic payments - are especially confident and expect to spend 71 percent more than in-store shoppers during the holiday season.