Consumers with historically low levels of debt could provide stores with “not great, not awful” retail sales growth of between 4 and 5.5 percent in 2013, similar to the 4.5 percent rate registered in 2012.
That was the estimate of Craig Vosburg, group executive of U.S. market development at MasterCard Worldwide, during a presentation with Cheryl Guerin, the company’s senior vice president and group head of U.S. marketing, on “Connecting Consumers and Retailers to Drive Sales Growth.”
Citing MasterCard data across all payment forms, Vosburg said U.S. sales growth last year came in at 4.5 percent, with increases in luxury retail and specialty apparel retailing at the same level. E-commerce grew at a 14.8 percent rate.
Holiday, defined as the 56 days prior to Christmas, saw increases dissipate as the nation weathered what Vosburg termed “the one-two punch we saw in November with Hurricane Sandy and in December with the increasing drag of the fiscal cliff debate.”
For holiday, U.S. retail sales growth slowed to 3.6 percent, while luxury retailing fell to 1.4 percent and specialty apparel sales just missed the break-even point with a 0.1 percent sales decline. Even the hot e-commerce channel decelerated to a growth rate of 10.6 percent, according to MasterCard data. The e-commerce channel’s 6.9 percent growth rate in November broke a streak of 20 consecutive months with year-over-year growth of at least 14 percent.
Friction among legislators might linger into 2013, but, as with budget battles prior to the “intensely personal” fiscal cliff confrontation, would be more likely to affect consumer confidence than purchasing, Vosburg noted.
He characterized the average consumer as being “in pretty good shape. Personal debt levels are as low as they’ve been in a decade, so there is spending power.” Still, as in 2012, growth will be “a challenge.”
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)