SalesNotes

US consumer confidence index -45 in latest week-ABC

Tue Oct 12, 2010 4:57pm EDT

NEW YORK, Oct 12 (Reuters) - ABC News reported on Tuesday
that its weekly index of U.S. consumer confidence rose two
points in the latest week, though it remained deeply in
negative territory.

 The ABC Consumer Comfort Index rose to -45 for the week
that ended Oct. 10, up from -47 in the previous week.

 The index hit an all-time low of -54 in the week to Dec. 1,
2008, and then again in the week to Jan. 25, 2009. The index
has not been in positive territory since March 2007.

 

ABC News Consumer Comfort Index Edges Down

7/21/2010 12:05 AM ET

TOP MARKET NEWS

(RTTNews) - ABC News said on Tuesday that its consumer comfort index averaged -45 in the week ended July 18, down from -44 a week ago. The index is now just 9 points from its all-time low and is well away from its long-term average of -13 in 25 years of weekly polls.

ABC News said only 11% of survey respondents rated the economy positively, while just 26% thought it was a good time to spend money. Some 45% of respondents rated their personal finances positively.

The sentiment indicator was at -47 among adults aged under 35, suggesting that younger people were more pessimistic about economic conditions. The indicator was at -38 among people aged between 35 and 44.

The latest ABC News 

via www.rttnews.com

ABC News Poll: Sharp Drop in Consumer Confidence

Consumer confidence this week sustained one of its steepest one-week drops in the last quarter century, following last week's troubling jobs report with an all-hands retreat from what had been a tentative positive trend in consumer attitudes.

via abcnews.go.com

Retail Sales: Some Good News on Early Holiday Results - Advertising Age - News

MasterCard Advisors tentatively estimates retail sales increased 3.6% between Nov. 1 and Dec. 24. But there is still plenty of reason for caution; accounting for an extra shopping day this year over last year could drag that figure down between 2% and 4%, the group said.

via adage.com

Industry News 2: Bob Fisher Memorial Service Announced

I am sure most all of you have heard of the tragic and untimely death of Bob Fisher, a well known and longtime figure in the art materials industry. A great many of you had the pleasure of getting to know him a more than just a little bit, but a great many also came to know him as a good friend, and a genuinely pleasant person. I (Steve Gallisdorfer) happen to be one of those fortunate ones who knew him very well, having working with him in various capacities for about 28 years, and am just blessed that he was my friend.

via theartdog.dreamhosters.com

Retailers Cut Back on Variety, Once the Spice of Marketing

In an article in the Wall Street Journal today Ilan Brat, Ellen Byron and Ann Zimmerman write about how our largest retailers are cutting their assortment down in order to lift sales and increase profits. They talk about Walmart's initiative to cut their selection by 25% as well as Walgreen and Kroger each cutting thiers by 14% and 5% respectivly. On average the authors expect retailers to cut their assortments by 15%. Why? "Rretailers are cleaning up the clutter. They are trying to cater to budget-conscious shoppers who want to simplify shopping trips and stick to familiar products. Rretailers have found that eliminating certain products can lift sales and profits, in part by cutting excess inventory and making more room for house brands." What does this mean for manufacturers who introduce scads of new products each year in an effort to keep or grow shelf space? More space for #1 and #2 and increased sales at the expense of #'s 3 & 4. 

To read the entire article follow the link below.

Retailers Cut Back on Variety 

Americans’ New Thrift is Bad News for Retailers

As reported in Business Week: The great American retrenchment is hammering retailers. 
Retail sales slipped 10% overall in April over the previous year. Bars, restaurants, pharmacies, and personal-care stores experienced a slight sales bump, but that trend may not continue if consumers keep paying down credit-card debt.

See the slide show: Business Week June 8, 2009

Economic Outlook

GDP revision shows 6.3 percent drop in Q4

Weak consumer spending, business investment, and the ongoing slide in real estate marked the worst quarter in a generation

Victoria Kickham -- Industrial Distribution, 3/26/2009 3:14:15 PM

The U.S. economy saw its sharpest decline in 26 years during the fourth quarter, as real gross domestic product plunged 6.3 percent at an annually, seasonally adjusted rate, the Commerce Department said Thursday.

The drop in gross domestic product was the steepest since 1982 and the third largest decline in 50 years.

The revised numbers did not affect the overall growth pace for 2008, however, which was the weakest since 2001, at 1.1 percent.

The economy was dragged down in the fourth quarter by weak consumer spending, the ongoing slide in real estate and declines in business investment.

The revisions do not reflect the government's recent efforts to stimulate growth and ease credit.

The news comes on the heels of more positive economic indicators released earlier this week. Data Wednesday showed that sales of new U.S. homes rose a stronger than expected 4.7 percent in February, after six months of declines.

In a separate report Wednesday, orders for U.S.-made durable manufactured goods unexpectedly rose for the first time in February, after six months of decline. It marked the strongest one-month gain in 14 months.