According to several forecasting firms and economists, this holiday shopping season should be merry and bright for retailers. The National Retail Federation (NRF) predicts that retail sales for the season will reach $655.8 billion, a rise of 3.6% since last year and well above the 10-year average of 2.5%. Two other consulting firms …
Deloitte: Luxury Market Faces Ups and Downs Ahead
New York– Global luxury brands should take advantage of evolving technological and consumer demands to help boost profits and remain competitive, according to the 2nd annual Global Powers of Luxury Goods report issued by Deloitte Touche Tohmatsu Limited (DTTL). The report provides an outlook on the global economy; an analysis of …
U.S. Spending Index Hits Highest Point in a Year
New York—A leading consumer spending index has hit its highest point in nearly a year, giving a positive indicator for a successful holiday selling season. The Deloitte Consumer Spending Index tracks consumer cash flow as an indicator of future consumer spending. “The Deloitte Consumer Spending Index grew to reach the …
Week in Review: Top Stories You May Have Missed
New York—Although we’re still all wrapped up in what comes down the Paris runways and how it reflects what went on in Milan, London and New York, the looming issue is a big one: the holiday season. We’ll Take Moderately And if Deloitte is correct in its assessment of the …
Forecast: Retail Holiday Sales to Increase 4% to 4.5%
New York― Steadily improving economic fundamentals should moderately boost holiday sales in the stores and online this year, according to Deloitte’s annual holiday sales forecast. “Income, wage and job growth are positive indicators heading into the holiday season,” said Daniel Bachman, Deloitte’s senior U.S. economist. “Debt levels remain at historical …
Week in Review: 10 Must Knows
New York—Somewhat of a buying splurge has been going on in the fashion industry. Companies, some already huge such as Hanesbrands, are becoming more so by purchasing large companies that fill a niche that don’t already have. Hanesbrands acquired a Western European business when it acquires DBApparel, a Paris-based company …
Deloitte: Global Luxurygoods Remains Resilient, Despite Tougher Market
New York–The world’s 75 largest luxury goods companies generated luxury goods sales of $171.8 billion through the end of last fiscal year (fiscal years ended through June 2013) despite a slowdown in the global economy. The average size of the Top 75 companies was $2.3 billion in luxurygoods sales. This …
Week in Review: Trends, News to Remember
New York—As fashion’s focus turns to Paris after Milan and London, we continue to bring you the latest emerging trends direct from the runways. This week, we particularly like Dolce & Gabbana’s prints depicting ancient columns and coins, floral appliqués that blossomed as decorations here and abroad, and a salute …
Holiday Sales to Rise at Least 4%, Deloitte Says
New York—A second, bit-more-optimistic forecast for holiday sales was released Monday by Deloitte. Citing the slowly improving U.S. economy and rising home prices, Deloitte said it expects holiday sales to rise between 4% to 4.5% to $963 billion to $967 billion from November to January (excluding cars and gasoline). It’s …
Sandy Dampens November Comp Store Sales Reports
New York—Thankfully, many U.S. retailers reported today that their holiday shopping seasons, particularly since Thanksgiving, are off to a strong start. But in most cases, the Black Friday sales were still not strong enough to counter the effects of Superstorm Sandy, which struck the Mid-Atlantic and Northeastern states, effectively forcing …
Study: Smartphones to Influence $689 Billion in Retail Store Sales by 2016
New York—Retailers have a good reason to pay attention to consumers’ “showrooming” or shopping in-store to view products and then comparison shopping (or even buying) on their handheld devices. According to a new research by Deloitte released today, smartphones currently influence 5.1% of annual retail store sales. That translates into …
Latest Holiday Survey: Down Economy? “Bah Humbug!”
New York—Despite a drop in consumer confidence, rising prices across retail, and worries about a double dip recession, holiday shoppers aren’t going to play Scrooge like they did at the height of the Great Recession in 2009. Instead, they plan to put aside those worries and still spend more than …