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Record Drop

Commerce Department says October retail sales plunge is lowest since 2001



The Commerce Department announced that retail sales decreased by the largest amount on record in October as cautious consumers continued to sharply cut back on their spending.

According the report, retail sales fell 2.8 percent last month, surpassing the mark of a 2.65 percent drop experienced seven years ago. October’s drop, the fourth consecutive month retail sales have declined, was much bigger than the 2 percent fall economists expected.

The decline in sales was led by a huge drop in auto purchases, which decreased by 5.5 percent. Excluding autos, retail sales fell 2.2 percent.




MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design

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