The clothing retailers state that decline in sales were mainly due to global and domestic challenges, including economic uncertainty surrounding government shutdown in the US and currency depreciation in the Asian countries.
The National Retail Federation (NRF) holiday sales forecast estimates 3.9 percent increase in holiday sales this year over 2012.
In an interview with fibre2fashion, Mr. Jeff Green, retail analyst at Jeff Green Partners, US-based retail estate consultant firm, said, “In contrast to retail trade organizations projecting anywhere from 3-9% increase in holiday sales year over year, I think the holiday season will be totally flat.”
“The consumers are spending less this year mainly due to continued economic uncertainty as unemployment figures remain fairly weak and consumers lack confidence because of holdover from government shutdown,” he adds.
Kevin Stecko, owner of 80sTees.com, US-based online apparel retailer, says, “I do not expect growth in sales this year and I would be happy with sales coming in about where they did last year.”
The recent research report of NRF stated that the US shoppers spent 2.8 percent less on shopping this year as compared to last year.
According to Mr. Punit Agarwal, CEO of Promart Retail, the currency depreciation always led consumers to take a conservative approach to spending during season sales.
“However, consumers are always motivated to shop during season sales. Though they may reduce their budgets they will not completely stop shopping,”he opines.
Fibre2fashion News Desk - India
Textiles | On 24th Jan 2017
President Donald Trump has set the ball rolling for withdrawal of the ...
Apparel/Garments | On 24th Jan 2017
Provider of reverse logistic excess inventory solutions for specialty ...
Textiles | On 23rd Jan 2017
The US textile industry is eager to work with President Donald Trump...
Shingora Textiles Ltd
‘In terms of fabric, the fastest growing category for us is a blend of...
Maa Tex Speciality
‘We suggest reducing dosage of sizing chemicals to reduce sludge...
Md Hanifur Rahman
The level of understanding the job role and organisational requirements...
Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...
Bombay Textile Research Association
Bombay Textile Research Association (BTRA) is a leading name in textile...
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...
Golfwear and menswear brand Devereux is set for greener pastures. Robert...
Apparel/Garments | On 23rd Jan 2017