January 17, 2006
In 2006 Retail sales increased 6.3 percent and there are predictions of even higher numbers for 2007.
The National Retail Federation is saying sales should start slow this year, but finish strong with an overall increase of 4.8 percent. Its projections are sometimes too high, just like this year's holiday numbers.
The Federation expected a 5 percent increase, when in reality it was only a 4.4 increase. It says warmer weather and the slower housing market had an impact on spending.
But sales did rise for appliances and electronics such as video game systems and plasma TVs by almost 14 percent.
For this year the federation predicts Luxury retailers will continue to outperform other products.