Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Gift Cards, Last-minute Deals Boost Chain Store Sales
WASHINGTON (1/2/14)--A measure of consumer spending ended the year on the up for the third consecutive week, according to a report released New Year's Eve.
 
The International Council of Shopping Centers' Weekly Chain Stores sales index increased by 1% for the week ending Dec. 28. The measure was also 3% higher on a year-over-year basis, and its four-week moving average was at 2.3%.
 
Boosting year-end sales were Christmas Eve discounts and record gift-card purchases. The proportion of retailers offering Dec. 24 promotions was higher in 2013--21% compared to 17% in 2012. Gift-card purchases also accounted for 23.7% of total holiday spending, which, Moody's analysts said, should prolong the holiday shopping season to the end of January (Economy.com Dec. 31).
 
The research firm's analysts pointed out that department stores had the largest gains, while electronics retailers' numbers were weak.
 
Weather, they said, wasn't much of a factor last week, with snow and ice only in parts of New England and the Midwest.
 
In 2013, retail discounts overall averaged 30%--an increase from 25% in 2012, according to Moody's, which expects 3% to 4% sales growth in December.


RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
5 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
6 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
8 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
8 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
8 hours ago