Vesta Digital Blog

Retail Sales Increase – What It Means for Small Business Owners

Posted on: December 16, 2010

Retail Sales Increase - What It Means for Small Business OwnersAccording to the Wall Street Journal, November saw a significant increase in sales that gave the economy a real boost. Merchants reported better-than-expected sales, giving the average small business owner some hope for the future.

The Commerce Department said Tuesday that retail sales increased by 0.8% in November, outperforming the 0.5% increase economists had predicted. The increase in sales rose to the highest level since November 2007 – right before the recession began, according to the article.

Holiday Shopping is Critical for Business Owners

As a small business owner you understand the importance of boosting your sales during the holidays. As Thanksgiving rolls around every year your head is probably buzzing with sale and discount opportunities. According to the article, Jim Baird, and investment strategist for Plante Moran Financial Advisors, confirmed that consumers were boosting spending in the middle of the holiday shopping season – the most critical time for business owners.

It’s difficult as a business owner not to depend so much on holiday shopping. However, we have hope for the future.

“Compared to a year ago, the results are very encouraging,” Baird said.

Survey Results

According to the article, Tuesday’s retail-sales report showed auto and parts sales fell by 0.8% in November, after surging 5.6% during October. But excluding autos, retail sales in November rose 1.2%, topping expectations for a gain of 0.7% as general-merchandise store sales climbed by 1.3% and clothing-store sales surged 2.7%. Non-store retailers, which include mail order and Internet sales, jumped 2.1% in November.

How to Maximize the Sales Increase for Your Business

As a small business owner, you should see these numbers and get excited about the possibilities of the future. However, you need to make sure you have the right tools to maximize on the sales increases. Do you have a business website? If not, you absolutely need one. It is so critical these days to make sure that you are available to consumers from any channel they might use. Have a business website that is compatible with e-commerce; it can be the most powerful investment you have.

Distributed by IntelBuilder Social Media Platform

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