Retailers in for steady, modest growth in 2012

Hopefully, retailers liked 2011, because 2012 is looking like it will offer more of the same.

A consensus is emerging that the new year will again bring a slow but steady increase in business, after moderate growth last year that was capped by a holiday season that saw shoppers spend if stores gave out bargains.

"Consumers are doing everything they can in light of the current environment to be consumers," Paul Hurley, founder and chief executive of Ideeli, a flash sales website. "We're not seeing a deflationary spiral where people are putting off purchases."

The National Retail Federation at the start of its annual convention in New York said U.S. retail sales should rise 3.4 percent this year, down from an increase of 4.7 percent in 2011, which came after weak sales in 2010.

Read Full Article from Reuters

- Posted: 2012-01-16 20:58:36

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