News

Deloitte reports consumer spending up for second straight month

August 11, 2009

A year or two ago it would have seemed meager, but today it feels like reason for celebration: Consumer spending went up in July, the second straight month of growth after a nearly yearlong series of dips.

Deloitte's Consumer Spending Index shows an increase in consumer spending of just over 2 percent in July, an increase of 1.85 percent over June.

More spending is on the way, according to Deloitte vice chairman Stacy Janiak, in an interview with Progressive Grocer:

"Retailers should be strategizing to more quickly adapt to changes in consumer buying patterns," she added. "In particular, use of advanced analytics to manage inventories and create pricing and promotion scenario plans could be an important catalyst in capturing greater market share and improving profitability this holiday season."