Chief marketing officers of U.S. retailers predict this year's comparable and overall holiday sales to increase by 2.83 percent and 3.51 percent, respectively, according to a BDO USA survey of CMOs. In addition, the execs say they have increased their inventory by 2.8 percent.
Further findings show that 31 percent of CMOs say they are increasing their SKUs while 45 percent are making no change and 16 percent of retailers say they are decreasing their SKUs.
"Retailers appear more optimistic for the 2010 holiday season, a sign of the industry's resilience," says Doug Hart, partner of retail and consumer product practice for BDO USA. "Retailers expect the recent positive momentum to continue now that consumer spending is gradually improving. While retailers continue to carefully manage inventory levels, some are planning to broaden product offerings for the 2010 holidays, a major change from 2009."
The sales predictions from the survey top last year's 1.4 percent (comparable) and 2.6 percent (overall).