WEST SPRINGFIELD, Mass. (WWLP) – It’s hard to believe now, but just a few months ago, sub-zero temperatures and snow kept people in their homes, causing retailers to lose billions of dollars across the country.
Now, in May, sale signs certainly bring shoppers into the stores. However, monthly consumer spending remains stagnant. Every few months, often around a holiday, retailers roll out major discounts to attract shoppers on their days off, and the strategy is working.
Desiree Hebert of Ludlow said, “I wasn’t planning on going to the mall without going for sales, so yes, I definitely always go for the sale, and I got a lot of good stuff.”
Having more people in a store doesn’t always result in bigger profits. A Gallup survey found that consumer spending in April remained virtually the same as March and February.
Many people admit the economy has recovered significantly since the 2008 recession, but they told 22News they continue to focus their energy on saving money and getting the most out of what they spend at food and clothing stores.
Shay Hudson of Westfield said, “I mean it’s usually like, if I’m going to American Eagle, and it’s buy one get one 50% off, it’s like, yeah I gotta get that. So yeah, it’s more like buy one get one or if it’s on sale.”
Experts are hopeful that, as we head in to summer, May and June spending levels will increase.
To be clear, spending levels are far above the recession levels of 2008 and 2009. There just hasn’t been a significant increase since last winter.