New reports show that retail is benefiting immensely from the restoration of customer confidence and the gradual improvement of the economy. Other data hints that the relationship may be symbiotic. For the cycle of recovery to continue, the increased shopping must go on. Now that the market has momentum, sustaining it is the key for shoppers and sellers alike.
A new survey conducted by MarketWatch's Economic Intelligence Unit shows a wave of consumer spending leading to hiring in retail and manufacturing. This hiring, in turn, is predicted to keep the economy afloat.
“The labor market will keep coming back and output will rise,” said the EIU's Steven Leslie. “They will gradually lift the other parts of the economy.”
Industry analyst Craig Johnson, in a commentary for Chain Store Age, has detected a pattern among recovering retailers. He finds that successful retailers tend to be more focused and efficient, as well as well-managed and maintained. Chains have cut locations and made more efficient use of resources. An important cost-cutting measure in tight economic times could be the adoption of up-to-date facility maintenance software, keeping management one step ahead of any condition issues. With the market recovery in a delicate phase, saving time and money is a must.
