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Corra Consulting - Cyber Monday, Spending & The Economy

02December

Cyber Monday, Spending & The Economy

The Thread's Top Three:

1. How the Web Drags on Some Retailers.  This past weekend’s numbers were not stellar to say the least.  As the Wall Street Journal and others have reported: shopper traffic was down, consumers’ average spending dropped, and online’s single-digit gains were far less than anticipated.  What does this indicate for year-end reporting?  It likely signals that those who didn’t purchase early will purchase later in the season, and these delays will force heightened promotional activity that will only further erode gross margins.  Year-end gains will be modest at best (1-3%), but at what cost, we will all need to wait and see.

2.  Americans’ Consumer Spending Inches Up in November.  Gallup’s poll recorded daily spending that was +7% for November over the previous month and +4% over the prior year.  The November increase built upon October’s gains, and should the trend carry into December, then retailers are much more likely to hit that +3% threshold for YE 2014 revenue.  Notably, spending increased among Americans of all income levels, and the $6 increase in average daily spending from October’s $89 to November’s $95 was the biggest increase on record since 2008.  The economy still has a long way to go, but the data points to a reason to hope.

3.  Podcast: 3 Things To Watch In the Economy.  The Northwestern MutualVoice Team put together what I view as a great perspective piece on the economy.  Have a listen.


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