Retail lull in early December isn't so bad

How deep East THE a lull?

It is THE dog days of early December For retailers, When business typically dived following Cyber Weeks overvoltage In gift purchases And aggressive price promotion.

But business SO far This month doesn't has been as bad as expected, with reports on traffic And sales For early December hovering around flat, according to has retail sources. It is to favor hope For little sales earnings This vacation season generally, seen around 2 has 4 percent industry-wide. THE purchases will take up significantly — along with steeper discount — ten has 14 days Before Christmas as he do each year, as late vacation buyers blur For gifts.

Last year retail sales during THE November has December vacation season grown up 5.3 percent on 2021 has $936.3 billion, according to has THE National Retail Federation.

"After Cyber Monday, THE rest of THE week — Tuesday, Nov. 28 has SATURDAY, Dec. 2 — was about more 0.7 percent," said Joe Shasteen, global analytic director For RetailNext, which used technology has track customer traffic In stores And shopping centers. Shasteen Also said that traffic This year on Cyber Monday And THE Sunday Before was negative 0.5 percent compared with has 2022.

"Business East A little better that What We thought," said A high executive of A major retail conglomerate, comment on business For early December. "New York City East up 5 percent on last year For December, but generally It is A difficult world out there. »

New York And a few other major cities such as Miami to have seen A significant pick up In tourism In recent weeks. That combined with cooler temperatures has help retailers see A pick up on cold temperature clothes And accessories. THE weather report East expected has be relatively benign through December, which would be encourage more purchases has stores, which led has bigger impulse purchase compared with has online go shopping.

"I think people are happy THE path THE season has has been going with maybe 2 Or 3 percent sales earnings " account by THE END of THE vacation season, said Walter Loeb, THE veteran retail analyst And consultant.

RetailNext reported Monday that For THE First of all week of December, WE. traffic tendencies were up 0.5 percent compared with has 2022, with net sales down 1.5 percent. Conversion rates were down 0.6 percent compared with has last year, while units by transaction (TPU) were down 1 percent And average transaction value (MTB) was up 1.8 percent has last year.

RetailNext broken down It is results by region, report that for the First of all week of December, retail traffic In the Midwest was up 1.9 percent; the northeast was up 0.8 percent. However, the West was down 0.4 percent And the South was down 1.3 percent compared with has last year.

Traffic In mall stores pink 1.5 percent and outside shopping centers the stores were up 0.6 percent In THE First of all week of December. Traffic has stores In outdoor shopping centers pink 1.6 percent, while stores inside interior shopping centers pink 1.4 percent, RetailNext reported.

By category For week A of December, health And saved beauty A more 3.1 percent increase In traffic compared has last year, followed by clothing see you 0.9 percent, and shoe stores has more 0.3 percent. But jewelry came In flat has zero percent, and the house was down For THE week has negative 4.4 percent compared with has last year, RetailNext reported.

Overseas during THE First of all week of December, Europe, Medium East And Traffic in Africa was down 2.5 percent, with traffic has European stores up 0.9 perc...