The dismal sales of holiday seasons past have given sales professionals no reason to celebrate. However, the 2010 shopping season looks to be more promising as retail sales continue to rise. For the third straight month, the Department of Commerce has announced an increase in sales numbers.
No Double-Dip Recession?
For some economists, the news means that fears of a double-dip recession are unfounded. Although the most recent recession officially ended in the summer of 2009, consumer spending, housing prices and employment have yet to fully rebound. Many have been concerned that the slow recovery meant the nation was ripe to slip into back-to-back recessions. However, as consumer spending continues to creep back up, it might be just the first indication that the recession truly is a thing of the past.
According to figures released by the Department of Commerce, total retail sales increased by 0.6% from August to September. You may be thinking that is not much to cheer for, but it certainly beats the 0.4% of growth that was expected. In addition, analysts report that gains are being seen across all segments of the market, and consumers are purchasing brand names again instead of only private labels.
Federal Reserve Pitching in to Help
Although the numbers are encouraging, they are not moving fast enough for Federal Reserve Chairman Ben Bernanke. The nation’s top financial officer has announced plans for the reserve to buy additional American bonds in an effort to infuse more cash into the market.
Critics are wary of a cash-strapped government putting more money on the line when consumers might not be ready just yet to boost sales significantly. Unemployment remains high, and consumer confidence continues to be weak. Together, that could lead to a continuation of the trend to save and not spend extra household income.
Bottom Line for Retail Sales Representatives
If you are gearing up for the holiday sales season, you have a reason to be optimistic. Many analysts believe that shoppers are ready to spend once the seasonal specials hit the stores. The question will be whether retailers will deliver the type of bargains and values that consumers are seeking this year.
As always, profits may be found in the extras offered along with a sale—extended warranties, service set-up and accessories. Don’t forget to make your customers aware of these offerings and the value they provide. Of course, never push unwanted services on your prospects or you might find that they simply walk away from the entire sale. And that would be the equivalent of a lump of coal in your Christmas stocking.
Be prepared for the seasonal rush. Check out the latest jobs at SalesHeads and ensure that you have a very happy holiday indeed.
Maryalene LaPonsie is an accomplished writer who has extensive experience reporting on education, career advancement and workforce development topics. She specializes in sales and marketing consultation as well as general copywriting services.
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