Retail Industry Hit By Heavy Snowing – Trying Hard to Survive
Heavy Snow has paralyzed retail industry across the region,most of the retail stores have posted negative results including Hot Topic Inc which reported a 3.3 percent fall in January,Target Corp will be reporting January sales on Thursday.Promotional levels were high during the month for christmas and new year as retailers tried to push around the sales but these discounts were not limited to winter merchandise,this is also going to be a factor affecting the results and profits.Many shoppers just cut off their spending in the month of january after heavy purchases during november and december.Not only in U.S but in U.K and other part of world, this brutal weather is effecting retail sales.According to Office for National Statistics sales in Britain retail stores fell to 0.8 in December .
Well it might be bad for retail industry but it is opening doors for other industry that is the online shopping.Trend for online shopping is clearly continued unabated, despite fears that supplies could be affected by snow.