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Of the 23 retailers tracked by market research firm Thomson Reuters, October same-store sales rose 3.4% on average from the same period last year, not as good as analysts' estimates of 4.5%, and they were also worse than the 4.4% in August and 5.1% in September. Increase.
The National Retail Consortium (NRF) expects overall retail spending to grow by 2.8% in November and December, which is less than the 5.2% increase in the previous year.
It is expected that consumersâ€™ spending on gifts this year will average about 516 yuan, a decrease of 4.6% from the same period of last year.
Ronn, a retail strategist at consultancy Kurt Salmon, said that the data so far has been mixed. This is related to the location, the snow in October in the northeast, and continued pressure from high unemployment and housing prices.
Costco, the market leader in consumer goods, has benefited from the preference for special products. Sales have grown by 9%, but not as much as 9.2%.
The discount retailer Target stated that same-store sales rose 3.3% in October, but was significantly lower than the market's 4.2% increase.
The company pointed out that the growth in the previous month was mainly due to the growth in the average amount of each transaction, which offset the slight decline in the number of transactions.
This represents a reduction in the number of consumers going to shopping, but spending more than before. Most consumers purchase food, household products and Other necessities, and sales of apparel, jewelry, and furniture are weak.
Although retail sales were still the focus of attention last month, many retailers have shifted their focus to holiday sales at the end of the year, introducing cold commodities and even some festive decorations.
The retail industry has always been particularly fierce in winter. Wal-Mar, the worldâ€™s largest retailer, has promised to launch a fierce price war that rivals the competitive prices of its peers; Amazon, the shopping site, has established a â€œBlack Friday Value Storeâ€ (Black Friday Deals), allowing Black Friday discount sales to open ahead of schedule.
Target, Macyâ€™s and Coleâ€™s retailers also said that they would open their stores for the first time on midnight on Black Friday.
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