Roulston Retail Partner Craig Johnson on Strong after Christmas Retail Sales

December 27, 2011

The day after Christmas has become one of the best shopping days of the year for retailers as consumers look to get those gifts that they wanted but didn’t get the day before. It has become a day that is as much about buying as it is returning especially this year with a record $28 billion in gift cards sold this holiday season. Craig states, “If your using a gift card, it’s like using other people’s money, so you don’t mind paying full price.” Customer Growth Partners thinks that $29 billion was spent this past Monday, which may make it more than Black Friday. The three day weekend and nice weather may have played a factor but Craig believes this is a sign that consumers are much healthier than a few years ago because they deleveraged and brought consumer credit down by 20 percent in terms of what they borrowed. He explains, “We think it looks pretty good for sustained spending growth for the consumer.” This comes on the same day that Sears announced they will be closing 100-120 Kmart and Sears stores as the company announced weaker than expected holiday sales. The softer than expected holiday sales performance point to the deepening problems at the retailer and concerns over its survivability. We will see how this plays out over the coming year but if you would like to read the full article please visit http://www.cbsnews.com/8301-500202_162-57348599/brisk-mega-monday-business-buoys-retailers/.

Craig Johnson is President of Customer Growth Partners of New Canaan, CT, consultants serving the Retail and other Consumer industries. He has three decades of experience in consumer service industries, in both senior executive and consulting roles, and has advised institutional investors and private equity participants on opportunities in the consumer discretionary sector. He is cited as an authority on retail and consumer issues in publications such as Business Week, Fortune,New YorkTimes, The Times (London), USA Today, and the Wall Street Journal. His Retail clients have included firms such as BJ’s Wholesale, Crutchfield Electronics, JC Penney, Lands’ End, Lowe’s, Perry Ellis, Simon Group, Toys R Us, Walt Disney,Westfield America and Williams-Sonoma.

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