The Commerce Department said that overall retail sales fell by almost 1% last month.
Antiques Colony followed a national trend. The Commerce Department said that overall retail sales fell by almost 1% last month, that’s more than $4 billion.
Furniture, even antiques and dropped about 3% with building materials and motor vehicles and parts dipping as well.“When I’m in the mall I don’t see the big crowds and I don’t see a lot of people holding a lot of bags. I feel over the pandemic and the economy the way it is, people are kind of holding on to their dollars a little bit more,” said shopper Stephen Davis.
San Jose State professor Benny Boveda, an expert on retail management said that he believes Christmas bargains and consumer confidence will help. “There might be some good deals out there. Especially if the consumer feels and that’s obviously what we’re banking on, that the economy will stabilize, the job market will still stay strong and if inflation is in check, I think we will see definitely better sales to kind of wrap up the year,” he said.“I think it’s a lot of pent up demand. I think people, they hold back in shopping when they’re worried about things. But Christmas is going to be here and they’ve got to buy presents.
Antiques Colony and many other retailers are not just waiting for shoppers to show up .. and hopefully their strategies and optimism will pay off.
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