2012 retail outlook mirrors 2011’s moderate growth

Hopefully retailers are happy with their sales in 2011, because 2012 is looking as though it will offer more of the same, Reuters reports. A consensus is emerging that the new year will again bring a slow but steady increase in business, after moderate growth last year that was capped by a holiday season in which shoppers spent if stores gave out bargains. At the start of its annual convention in New York, the National Retail Federation says U.S. retail sales should rise 3.4% this year, down from an increase of 4.7% in 2011, which came after weak sales in 2010. “It’s realistic, given the challenges that we face in the economy,” NRF Chief Executive Matthew Shay tells Reuters, noting improvements in consumer spending will continue to be “incremental” for the time being. U.S. shoppers have been held back by modest growth in income and high unemployment, currently at 8.5%. ShopperTrak, a data firm that makes sales projections based on foot traffic, expects sales to be “on par” with 2011 levels. And Customer Growth Partners gave a preliminary forecast of 5% to 6% growth for 2012, including e-commerce. That compares with an expected 5.6% for the year that will end this month. Last year, e-commerce sales rose 15%, according to comScore.