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November Sales for Retailers Suck

by Minority Fortune

Apparently, the verdict is out, and it doesn’t bode well for retailers. Black Friday didn’t magically increase their revenues fifty-fold. Maybe they should have tuned in to the reports that Americans are low on funds and out of jobs. Then maybe their expectations wouldn’t be so high. Money cannot generate from nothing (unless you’re the Fed).

The Retail Forward, ICSC and Retail Metrics released their data revealing that retailers had turned out a measly 0.9% return, which was far below expectations. While some retailers experienced a small increase, others remained even or in the negative. The Business Insider provided these statistics and noted that the results were devastating for retailers. While it may be devastating for retailers, the news holds bittersweet for consumers.

In this recession, consumers can no longer fake it. They’re facing reality and restraining themselves from excessive spending. It’s all about necessity and value these days. Therefore, retailers that aren’t providing what consumers need will feel the pain. It may be disappointing that holiday shopping isn’t rampant, but it’s an indication that consumers are hurting even more. That’s even more disappointing. However, it remains uplifting that Americans are keeping their spending in line with their earnings. It’s just too bad that the lesson had to be learned in this fashion.

*Image courtesy of Mark Edward Atkinson.
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