Tomorrow morning, about 20 retailers will report monthly sales results for May. We expect the positive momentum to continue, with consolidated same-store sales posting their 33rd consecutive monthly gain.
However, sales trends were relatively weak throughout the month of May. Eight consecutive weeks of declines in gas prices, Mother’s Day and Memorial Day holidays and warmer temperatures were not enough to entice discretionary spending, as consumers are increasingly concerned about slowing economic growth.
“Consumers have been more pessimistic on many fronts during the month of May as the financial worries in Europe clearly have spilled over and weakened consumer confidence in the U.S. as the U.S. financial markets have retreated as well on increased global worry,” said Michael Niemira, ICSC’s vice president of research and chief economist. “Given this, retail sales followed suit and retreated throughout the month of May.”
As always, we will have full coverage of monthly sales tomorrow morning.
Wednesday’s Top Retail & Consumer Reads:
- The emerging trillion-dollar market for health and wellness (McKinsey & Co)
- Apple’s Biggest Threat in Mobile Ad Space is Amazon (AdAge)
- Study says mobile marketing has eight times the response rate of email (Luxury Daily)
- Banana Republic’s first co-branded collections help lead resurgence (Bloomberg)
- Retailers perk up customer loyalty programs (SmartMoney)
- Coinstar retools vending machines with a tech twist (Seattle Times)
- Consumer Confidence Index plunged in May on moderating economic growth (Conference Board)
- Kohl’s is practically the poster child for successful retailing, so where did it all go wrong? (Robin Report)
- Retailers perk up customer loyalty programs (SmartMoney)
- Maidenform Uses Augmented Reality To Debut New Brand (MarketingDaily)
- How in-store shopping principles drive omnichannel retail (Retail’s BIG Blog)
- Thrillist’s flash-sale site JackThreads hits 2 million members (TechCrunch)
- Despite More Spending Power Than Ever, Boomers Still a Marketing Wasteland (AdAge)
- New ‘experience-based’ Body Shop keeps shoppers in store (Globe and Mail)
- Every Marketing Decision Begins & Ends With The Shopper (SymphonyIRI)
