Importers that sell to big U.S. retailers are gearing up for a significant uptick in consumer spending this spring and summer, according to a survey by Capital Business Credit, the results of which will be released today.
The Global Retail Manufacturers and Importers Survey showed that 43.2 percent of respondents said this spring would be stronger than last year’s, while 40 percent said summer sales would surpass those from a year earlier. Additionally, 40 percent said both spring and summer would be at least as strong as a year earlier.
“Retailers have played it very close to the vest for the last several years, fearful of overstocking the shelves,” said Andrew Tananbaum, executive chairman of the financial firm. “As consumers begin to open their pocketbooks again, importers and manufacturers are finally beginning to see increases in orders and reorders. This is indicative that a stronger retail and economic recovery is under way.”