New Report Shows Huge Shift in Sentiment for the Retail Sector
The positive jobs report last week and the revision for the previous months might be leading the latest sentiment numbers in the retail sector. A study just came out from BDO USA, LLP, stating that chief marketing officers (CMOs) surveyed within the retail sector expect a 3.7% increase in comparable sales this holiday season.
This represents the largest comparable sales increase since 2007. In comparison, the CMOs within the retail sector expected a decline of -2.7% for the 2008 holiday season, and in 2009, they only expected a small 1.6% increase. Clearly, the market sentiment for the retail sector has increased substantially over the last couple of years. (Source: “U.S. Retailers Forecast 3.7% Increase in Holiday Comparable Store Sales,” BDO, November 5, 2012.)