Weekly retail sales fall 9%

Chicago Year-over-year retail sales for the week ending March 21 declined 9.0%, compared with a 3.6% sales increase last week, according to the National Retail Sales Estimate from ShopperTrak.

The decline seems drastic compared with higher sales increases for the same week last year. However, the statistic is misleading due to the 2009 calendar shift. Last year at this time, retailers were enjoying sales leading up to Easter.

“Just as the 2009 calendar shift negatively influenced year-over-year sales last week, we anticipate this week will significantly increase over the same period in 2008,” said Bill Martin, co-founder of ShopperTrak. “Consumers have proven they’re willing to spend on seasonal items during spring break as the weather improves throughout most of the country.”

The NRSE provides a nationwide benchmark of retail sales. It is derived from the U.S. Commerce Department's GAFO (general merchandise, apparel, furniture, sporting goods, electronics, hobby, books and other related store sales) statistics, as well as ShopperTrak's proprietary industry intelligence on shopper movement and sales statistics.