News

NRF ups holiday spending forecast

BY HBSDEALER Staff

The National Retail Federation (NRF) has revised its consumer spending forecast for the 2010 holiday season, raising it from a 2.3% increase over last year to a 3.3% growth rate.

The upward revision is due to improvement in a variety of economic indicators, the group said, including stock market gains, recent income growth and savings built up during the recession – all giving consumers the capacity to spend.     

“The start to the holiday season has surpassed all expectations,” said NRF president and CEO Matthew Shay. “While employment data is still a concern, we are starting to see improvement in other economic indicators that support an increase to our forecast.”

November retail sales released today by the U.S. Commerce Department showed a 0.8% boost over October’s numbers, the NRF pointed out. Solid gains across the board indicate some pent up demand as consumers stocked up on items such as apparel, accessories and books and music.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

On Friday, the Trump administration ramped up its trade dispute with China, announcing $50 billion in tariffs. What is the most likely outcome of this move. (Choose up to 3)
News

Lowe’s, HD make Top 10 list at CareerBliss.com

BY HBSDEALER Staff

list of the Top 10 “Happiest Holiday Retailers” for employees has included Home Depot and Lowe’s, the industry’s two largest home-improvement chains. CareerBliss.com, a Web site where workers review and comment on their employers, listed Costco in the #1 spot, with Lowe’s and Home Depot coming in 5th and 6th place, respectively.

Other retailers on the list were Nordstrom, Victoria’s Secret, Old Navy and Best Buy.

CareerBliss.com based its rankings on one hundred thousand independent company reviews which evaluated employee happiness in the following categories: growth opportunity, compensation, benefits, work-life balance, career advancement, senior management, job security and whether the employee would recommend the company to others.

Compensation was not the overriding consideration in calculating the scores, according to CareerBliss.

“It’s true that Costco employees receive higher pay than those at other retailers, which contributes to their overall happiness,” said Rick Wainschel, VP at CareerBliss. “Those who work at Old Navy, however, are generally happier than those at Victoria’s Secret despite making an average of ten thousand dollars a year less. Our data indicates that factors such as benefits, career advancement, and work-life balance can often overcome monetary considerations, as is the case in this example.”

Bradley Brummel, a professor of Industrial/Organizational Psychology at the University of Tulsa and a member of the CareerBliss advisory board. Said, “Research shows a direct correlation between happy employees and better customer service. Customer service is a key driver for consumer purchasing, and with the holidays around the corner, retailers need every sale they can get.”

CareerBliss describes itself as “an online career community designed to help people find bliss in the workplace [and] a venue for employers, job seekers, employees and recruiters.” The company claims to offer more than six million independent company reviews and salary comparisons.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

On Friday, the Trump administration ramped up its trade dispute with China, announcing $50 billion in tariffs. What is the most likely outcome of this move. (Choose up to 3)
News

test

BY HBSDEALER Staff

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nullam leo mauris, gravida eu ipsum sed, sagittis condimentum felis. Suspendisse sollicitudin nisl purus, ac luctus lectus ornare et. Vivamus elementum vel nunc ut volutpat. Duis sed neque blandit, molestie tellus sed, aliquam neque. In tincidunt quam sit amet dui porta vulputate. Nam sit amet turpis porttitor, faucibus ligula ullamcorper, venenatis erat. Aliquam blandit, dolor vitae scelerisque tempus, sem libero facilisis lectus, eget aliquet urna turpis non sapien. Fusce ante lacus, luctus sit amet blandit et, pretium lacinia erat. Quisque et enim consequat erat condimentum varius eu id tortor. Proin a posuere diam, vitae commodo tortor. Etiam vitae consectetur diam. Ut risus ligula, lobortis vel nisi quis, pretium tincidunt quam. Aliquam tempus tristique erat in pretium. Nam viverra varius mi, at viverra eros egestas a. Nulla facilisi. Cras placerat ut diam in tempus.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

On Friday, the Trump administration ramped up its trade dispute with China, announcing $50 billion in tariffs. What is the most likely outcome of this move. (Choose up to 3)