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Weekend Newsletter November 3, 2024
## Dig deeper into today's stories:
November 3, 2024 Retail Sales & Strategies for Retail Business Success 📊 Get ahead of the curve with the latest 2024 holiday shopping statistics and consumer trends, retail sales grow 0.4% in September, 6 strategies to improve product turnover and and our latest promotions and exclusive offers!
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### Retail News
Retail Sales Grew Monthly in September, 1.7% Year Over Year Growth via Chain Store Age
According to the U.S. Census Bureau, core retail sales rose by 0.4% month-over-month in September, beating expectations as retailers gear up for the holiday season. Additionally, the U.S. consumer confidence index surged in October, marking the highest level since January 2024.
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Retail sales saw a 0.4% month-over-month rise in September as interest rates and inflation fell.
With 5 fewer days between Thanksgiving and Christmas this year, consumers are adjusting their holiday shopping strategies.
### Sales Strategy
Guide to Holiday Retail: 2024 Consumer Spending Stats and Shopping Trends via WSJ
Retailers are launching early sales promotions to engage consumers as American retail spending is projected to increase between 2.5% and 3.5% this holiday season, reaching up to $989 billion. By capitalizing on these early promotions, retailers aim to engage consumers and capture a larger share of this anticipated growth.
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### Business Strategy
Inventory Turnover Ratio: Everything You Need To Know + 6 Ways to Improve Inventory Turnaround via Unleashed
Inventory turnover, or the inventory turnover ratio is a crucial metric that measures how many times your business sells and replaces its stock over a specific period. By actively monitoring your inventory turnover, you can unlock valuable insights into how efficiently you're managing your stock. Start tracking your inventory turnover today to enhance operational efficiency, boost sales, and improve cash flow!
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A high inventory turnover ratio indicates that a business is efficiently managing its inventory and working capital.
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