Same store sales reports released by a number of large chain retailers suggest consumer activity is on the rise, likely foreshadowing the strongest holiday shopping season retailers have experienced in recent years, according to the Retail Industry Leaders Association (RILA).
“Retailers are more optimistic this year than they have been in several years, evidenced by inventory levels higher than a year ago,” RILA President Sandy Kennedy said in a statement. “Retailers have approached the 2010 holiday season eager to attract value-conscious consumers to their stores and earn their business,” Kennedy added.
Black Friday sales were up over a year ago as shoppers not only purchased gifts for others, but shopped for themselves as well. And, shoppers also got a head start on their shopping this year hitting stores and retail websites on Thanksgiving Day and to take advantage of early holiday discounts and promotions, RILA said. These developments coupled with consumer confidence being at its highest level in five months are an encouraging start for retailers as they go through the holiday season.
The complete report from RILA can be found HERE.