CMO Survey Projects Retail Sales Increase During Holidays
CHICAGO-U.S. retailers expect their same-store sales to increase by 2.83 percent and their overall sales to grow 3.51 percent during the upcoming holiday season, according to a survey of retail chief marketing officers conducted by financial consulting firm BDO USA.
The participating executives based their appraisal on their companies' inventory purchases for the holidays, which indicates their confidence that the consumer industry is recovering. More than one-third of the respondents said their inventory purchases have risen measurably since last year, while 16 percent said their inventory levels are down.
"Retailers expect the recent positive momentum to continue now that consumer spending is gradually improving," said Doug Hart, partner in BDO's Retail & Consumer Product Practice. "While retailers continue to carefully manage inventory levels, some are planning to broaden product offerings for the 2010 holidays, a major change from 2009."