A 4 percent increase in retail sales is projected by the National Retail Federation for 2011. The NRF is the retail industry’s largest advocacy organization which advances the industry through professional seminars, trade conferences, publications and educations. Increase in retail sales is shown through the federation’s economic outlook for this year.
In the overall commercial real estate industry, there’s been a 109% increase in commercial real estate sales in the U.S compared to 2009, according to Real Capital Analytics. The increase in commercial sales is the result of resurgence a continuing revitalization in investment and retail sales.
The 4 percent in retail sales, according to the NRF is the continuous retail growth during the last seven consecutive months. But the figures do not include sales on automobiles, restaurants, and gas stations.
However, the retail industry’s growth and retail sales is constantly pulled back by small businesses on expansion and hiring plans, as well as majority of the public and consumers are paying for higher energy costs. Majority of consumers are still speculating on the strength and level of recovery in the industry.
Shay also added that the total revival of the retail industry will rely on the congress’ regarding issues like tax reform and deficit reduction. He said that supporting policies that leads to the increase in employment rate is very important.
The NRF’s Retail Sales Outlook stated that consumers are now willing to spend again, but inflation due to rising commodity (products, services, goods) prices, as well as the continuous high unemployment rate could delay economic growth.
According to Matthew Shay, president of the National Retail Federation, the economic recovery happens to be advancing again with the help of retailers and retail sales.