While many businesses have their eyes ahead to next week and the beginning of the Holiday shopping season, it is important to stop and take a look at how far they have come.
According to an article from USA Today, October retail sales rose 0.4 percent, which outpaced predictions of 0.1 percent. This is significant because the government shutdown and a struggling economy were expected to have a more significant impact on spending habits of consumers.
"Economists have been expecting Americans to increase their purchases because they have worked off much of the debt they built up during housing and credit bubble in the mid-2000s," the article reads. "Also, the effects of this year's federal spending cuts and tax increases are diminishing."
The sales numbers show that furniture, electronics, clothing and sporting goods lead the way for strong numbers. On top of that, businesses have been able to take advantage of lower inflation and dropping prices.
While it is positive news for merchants that consumers are coming out to open the purse strings, business owners need to make sure they are ready for the increase in traffic that will happen during the holiday season. This can mean making sure employees are trained on all systems or upgrading point of sale equipment.
By partnering with an retail solution provider, any organization can find a reliable partner to gain a hand when it comes to upgrading and optimizing the cash register system and payment solutions.