Record snowfall has been great for skiers this season!! This same excitement has not been shared by retailers.
According to a report released today, the snowstorm that swept through the Northeast kept shoppers home on Sunday and Monday and delayed about $1 billion in post-holiday spending. Still, retailers will probably reclaim much of that amount.
ShopperTrak, which estimates foot traffic and retail sales, said in a report on Wednesday that consumers around the country spent about $10 billion on retail goods on Sunday and Monday but that another $1 billion was lost because of the snowstorm that struck much of the East Coast.
In regions other than the East Coast, visits to retailers continued to rise. In the Midwest, South and West regions, foot traffic to retailers rose 38.6 percent on Sunday compared with Sunday a year ago, which was on Dec. 27. In the Northeast, foot traffic declined 6.1 percent.