Thursday, April 15, 2010

Retail Sales Rise With Temperatures

According to the New York Times, retail sales were up 1.6 percent in March. Seventy percent of America's economy is driven by consumer spending and retail sales, so this is a glimpse of hope.
Retail Management professor Amanda Nicholson, at the Whitman School of Management, said the rise in apparel sales shows that people are now making luxury purchases and not only buying things they only need. "The reason for this is mainly the early spring, summer weather in the northeast," Nicholson says. "Do we have specific numbers for Syracuse, no, but they are fairly optimistic down in Armory Square that things are turning around."
Just like spring cleaning, this is the time of year people look in their closets and decide they need new...everything, just because the weather is above 40 degrees. Living in Central New York will do that to you.
"There is an increase in retail sales, but we are going against last years numbers which is hard. Any up is good though," Nicholson said.

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