While many retailers are set on preparing for the holiday shopping rush, it may be a good idea to take a minute and look at what the current retail landscape is telling us in preparation. If recent numbers are to be believed, merchants could be prepping for a very busy business season.
A recent LA Times article recapped a handful of studies that were released surrounding the sales numbers from October. All of the reports showed that the actual sales numbers were better that expected.
According to Retail Metrics, year-over-year same-store sales numbers for last month showed an increase of 3.7 percent. That is well above the 3 percent that was predicted beforehand. Another report from Thomas Reuter is claiming that the number is even higher with a 4 percent sales increase.
"Analysts had been worried that October would continue this year's trend of disappointing sales. Retailers are closely parsing any sales data, looking for clues about the coming holiday season, which accounts for as much as 40 percent of annual revenue for some companies," the article reads.
If this trend holds true, merchants could expect higher than expected sales numbers during the busiest shopping season of the year. While that is good news for merchants, it could lead to frustration if they have not prepared for the increase in traffic. This is the perfect time to deploy an upgraded POS credit card processing software system to help streamline operations and improve transactions to keep the lines moving and customers happy.