November retail figures have been released, and it’s more promising news for the industry as a whole! Numbers show that Americans flocked to the shops, either gearing up for the holiday season or taking advantage of the incredible sales and savings opportunities.
Whichever the reason, this brings the retail industry a well-deserved boost and pushes retail sales to the highest they’ve been in five months. There was a 0.7 percent gain in November, adding to the consecutive gains from months prior.
Not surprisingly, these are welcomed numbers to the retail community. According to chief U.S. economist at Deutsche Bank Securities Inc. in New York, Joseph LaVorgna, “we’re going in the right direction.” The industry seems to be finally gaining momentum and is picking up at a quick pace. At this new rate, 2014 is set to be a great year for retail – including for the retailers in One Loudoun!
Not only are economists and experts feeling optimistic about the future of retail, but so are the consumers. Confidence rose for the third week in a row, as shoppers felt more secure in their finances. According to Bloomberg, “the Bloomberg Consumer Comfort Index advanced to minus 30.9 in the period ended Dec. 8, the best reading since the first week of October, from minus 31.3.” With rising consumer confidence, we can expect the effects to ripple into spending habits. Economists are predicting that personal spending will top three percent at an annual rate for the first time since the end of 2010. These predictions are based on the 3.6 percent growth in the economy last quarter.
Families are moving into the community at an incredible pace, and with the continued growth of our resident and consumer base, 2014 could be a great year for One Loudoun! There’s no doubt that this might be one of the best times to open a new shop or store location in our development. Retailers will do extraordinarily well at One Loudoun, and they should act fast – there’s no telling how quickly our commercial retail and office spaces will fill up. Simply put, opening your doors in One Loudoun could prove to be very prosperous for any business!