Research >> Economics
ICSC Chain Store Sales rose 1.4% in Dec 21 Wk
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As the 2013 holiday shopping season draws to a close consumers really began wrapping up their holiday shopping purchases this past week. As a result retailers enjoyed another week of positive sales results as weekly sales rose by a solid 1.4% for the week ending December 21, 2013, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis, the pace of sales also improved and grew by 2.7%.
"Consumers reported in the ICSC-GS consumer tracking survey that the average holiday-gift completion rate rose to 83.5% though Sunday - close to last year's 84.0% at a comparable time, which is good news for retailers and the industry," said Michael Niemira, ICSC vice president of research and chief economist. "With only a day remaining to wrap up their holiday shopping, it is no surprise that 31% of consumers plan to shop on Christmas Eve," added Niemira.
For December ICSC Research expects monthly sales will increase between 3.0% and 4.0% as the promotional environment continues to be intense.
Posted: December 24, 2013 Tuesday 07:45 AM