An ominous macroeconomic outlook including a threat of a second recession should result in holiday retail sales growing at less than half the rate they grew in 2010, an economist for Kantar Retail here said in a web event Tuesday.Grocery stores and drug stores could see a percentage gain as compared to 2010, but virtually all of the growth will be due to price inflation, Frank Badillo, senior economist for Kantar, said. Overall retail sales are projected to grow by 2.8% this year, down from 5.6% growth last year, Kantar said.
Grocery and drug retailers should see their sales grown by 3.9%, up from 3.1% growth a year ago that was not inflation-aided.
Source: Supermarket News
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