ShopperTrak report: Year-over-year retail sales up 5.7% for week ending Sept. 11
Chicago A report released Wednesday by ShopperTrak said that year-over-year GAFO (general merchandise, apparel, furniture, sporting goods, electronics, hobby, books and other related store sales) retail sales increased 5.7% for the week ending Sept. 11, while sales jumped 3% versus the previous week ending Sept. 4.
According to ShopperTrak’s National Retail Sales Estimate, consumers took advantage of sales and promotions and an extra day of shopping for Labor Day weekend, effectively boosting both yearly and weekly retail sales. Additionally, as retailers moved further away from the end of back-to-school season (month of August), shoppers may have starting purchasing fall merchandise late in the week as cooler weather will be approaching in the next few weeks.
“Labor Day numbers were right in line with what we expected as 2010 continues to be a relatively strong year compared to some poor retail numbers last year,” said Bill Martin, founder of ShopperTrak. “We expect retail sales will begin their annul post Labor Day decline and will reach a seasonal low during the last week of September before rising again in October for both Columbus Day and Halloween.”