ShopperTrak: Year-over-year retail sales rise 2.1% for week ending Sept.25
Chicago ShopperTrak’s National Retail Sales Estimate Wednesday reported that year-over-year GAFO retail sales increased 2.1% for the week ending Sept. 25, while sales jumped a slight 0.4% versus the previous week ending Sept. 18.
Although retail sales posted a slim increase versus 2009, the increase was at a lower level than previous weeks as retailers experience the annual lull between the Labor Day and Columbus Day holidays. ShopperTrak says the cooler weather in the Northern states could have driven some fall merchandise purchases, possibly accounting for last week’s minimal GAFO retail sales rise.
“Retail performance is as expected right now and this week will most likely continue to lag a bit as more sales driven consumers wait for Columbus and Labor Day deals,” said Bill Martin, founder of ShopperTrak. “While sales are slow right now, this is just the calm before the November/December holiday storm ,which retailers have been planning for since early 2010 and which, as always, could make or break the season for much of the industry.”
Developed by ShopperTrak, the NRSE provides a nationwide benchmark of retail sales. It is derived from the U.S. Commerce Department's GAFO (general merchandise, apparel, furniture, sporting goods, electronics, hobby, books and other related store sales) statistic, as well as ShopperTrak's proprietary industry intelligence on shopper movement and sales statistics.