Talk about low expectations. Retailers this year are expecting flat sales growth this Christmas season.
Yet the industry views this as a positive sign. They just want the bleeding to stop.
NYT: “It’s reflective of this ‘new normal’ we’re in,” said James Russo, vice president for global consumer insights at the Nielsen Company. “Flat is good.”
Over all, the retailing industry posted a sales decline of about 2 per cent last Christmas season, the weakest performance since the late 1960s, when the Commerce Department began tracking holiday sales figures. Results for stores that sell clothing and luxury goods were far worse, typically declining by double digits. By contrast, several reports published in the last few days, including surveys by Nielsen and Deloitte, forecast no change in holiday sales from last year to this year.