The monthly Future Spending Index released by Retail Forward is at 99.6 for February, almost equal to what was considered a “buoyant” figure of 99.7 during January.
"Shoppers remain undaunted largely because of better cash flow this month across each of the key income segments," says Steve Spiwak, an economist with Retail Forward. "This is being offset somewhat by the downtrend in home buying since autumn, which will discourage spending primarily on homegoods. Still, the near-term environment remains favorable for the retail sector as a whole."
However, the Valentine’s Day holiday isn’t expected to be a major factor in the month’s economic performance, with shoppers telling Retail Forward that they would the same as last year or nothing on their loved ones this year – offering something of a contrast to a report by the National Retail Federation (NRF), which said that the average consumer will spend $100.89 on Valentine's Day, up slightly from $97.27 last year.
"Shoppers remain undaunted largely because of better cash flow this month across each of the key income segments," says Steve Spiwak, an economist with Retail Forward. "This is being offset somewhat by the downtrend in home buying since autumn, which will discourage spending primarily on homegoods. Still, the near-term environment remains favorable for the retail sector as a whole."
However, the Valentine’s Day holiday isn’t expected to be a major factor in the month’s economic performance, with shoppers telling Retail Forward that they would the same as last year or nothing on their loved ones this year – offering something of a contrast to a report by the National Retail Federation (NRF), which said that the average consumer will spend $100.89 on Valentine's Day, up slightly from $97.27 last year.
- KC's View:
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Here’s the thing that we don’t understand. We haven’t decided what we’re giving Mrs. Content Guy for Valentine’s Day this year, much less what we’re going to spend on it. So how do these guys know?
Pretty spooky, if you ask us…
