Spending Index Jumps in February

Columbus, OhioColumbus, Ohio, Retail Forward’s Future Spending Index for March indicates that more shoppers should be heading to retail stores as spring arrives. The index rose to 102.7 from 100.9 in February.

“The improvement in spending plans this month is concentrated among Up and Down Market households, who cited stronger job security and rising incomes for the greater willingness to part with their dollars,” said Steve Spiwak, an economist with Retail Forward. “Consequently, retailers that target either of these ends of the income spectrum, namely high-end and discount retailers, should benefit most from an increase in spending.”

Other results also show that discount retailers should fare well. For example, Wal-Mart continues to gain share of consumers’ grocery budgets, particularly among Middle Market households. Moreover, shoppers said they are spending more at dollar stores than a year ago.