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Retail sales up in January

14/02/2012 - By Louis Georgakakis

Reports for January reveal that retail sales increased.

Tag: Credit Card Processing

Retail sales were up again in January, but did not quite reach levels that economists were predicting. A report from the U.S. Department of Commerce revealed that sales in January increased by a seasonally adjusted 0.4 percent overall and rose 0.7 percent, excluding the automobile industry. The report cites increased consumer spending at restaurants, bars, department stores and general stores for the growth.

Revenue from automobile purchases fell $72.5 billion in December to approximately $71 billion in January. Following December, which reported the highest sales in nearly three years, automakers sharply reduced prices last month.

Economists for Marketwatch had originally predicted that spending would climb a full 1 percent for the month after a strong start to 2012. Retail stores reported steady growth for the month of January, auto sales surged and unemployment rates were slowly falling.

To accommodate increased spending, retail businesses can provide customers with the most efficient credit card processing, which can cut back on the time it takes to complete transactions at point-of-sale terminals. Providing consumers with the most convenient payment methods can encourage impulse purchases and improve the overall shopping experience.
 

Articles written by ChargeNational.com's editorial team. For more information, click here.

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