Chicago Despite continued economic pressures and widespread talk of a recession, retail sales for the month of February increased 2.8%, according to ShopperTrak RCT Corp.’s National Retail Sales Estimate. ShopperTrak’s retail traffic index reported a 2.9% rise in total U.S. foot traffic for the month.
Traffic rose steadily throughout February, with each week posting an increase compared to the same week in 2007. The monthly traffic increase represents just the third such increase in the last 12 months, which bodes well for retailers as it seems consumers are still responding well to both President’s and Valentine’s Day promotions.
ShopperTrak also reported retail sales posted a slight year-over-year February increase, continuing the 2008 trend of positive year-over-year sales, with nine out of 10 possible weeks posting a rise so far this year.
On a weekly comparison, sales for the week ending March 8 vs. the same seven-day period last year rose 2.1%, while sales increased a solid 10.0% as compared to the previous week ending March 1 as shoppers began spending early for Easter.