As the holiday shopping season fast approaches, predictions abound regarding its success or failure. At least one major forecaster expects disappointment, potentially the worst season since 2009.
ShopperTrak predicts that retail sales for this coming November and December will inch up a meager 2.4%, a drop from last year’s 3 percent increase and the 4 percent increases of both 2010 and 2011. These conclusions are based on a wide-ranging statistical analysis of store traffic at more than 60,000 locations.
ShopperTrak’s founder Bill Martin cited a number of factors for the forthcoming malaise, including rising interest rates, congressional infighting over the national budget, uncertainty regarding U.S. involvement in Syria and a bevy of macroeconomic indicators. “It’s got people feeling more tenuous about the holiday season, “ said Martin.
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