US online retail sales expected to grow 13.5% in 2013, surpassing US$250B, and exceed US$450B, account for roughly 15% of total retail sales by 2020: FTI Consulting
WEST PALM BEACH, Florida
November 14, 2012
– FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today released its 2012 Retail Report. The report, titled "A Real Cliffhanger," analyzes the state of the retail sector in the United States and finds resilience in consumer spending on goods despite ongoing global economic uncertainty and threats posed by the impending fiscal cliff. Consumer confidence is approximately 25 percent higher entering the 2012 holiday shopping season than it was a year ago. Included among the Retail Report's highlights are the following:
"Overall, consumer spending trends have been fairly impressive considering the financial anxieties still felt by many Americans," said Bob Duffy, Global Co-leader of the FTI Consulting Corporate Finance/Restructuring practice. "Despite slowing momentum in recent months and lingering concerns over income growth and employment prospects, sales growth trends have managed to stay within the range of historical averages. We find consumer spending across a number of product and store categories to be fairly encouraging and anticipate this vigor will continue through the holiday shopping season. High-end retailers, as well as deep discount and off-price chains, should perform well in the current environment."
Steve Coulombe, Senior Managing Director in the FTI Consulting Corporate Finance/Restructuring practice, said, "The online channel remains a game changer for large retail chains, and many have turned what once was regarded as a threat into an opportunity. Online is taking a bigger slice of the pie, and we are seeing large product categories with smaller but sizable online market shares such as apparel, home furnishings, toys and sporting goods becoming the moving force behind today's growth of online sales."
The 2012 Retail Report considers retail sales in the GAFO categories (general merchandise, apparel, furniture and home furnishings, and other miscellaneous categories) and non-store sales for November 2012 through January 2013. The report was conducted by our team of leading retail industry professionals with deep expertise in corporate finance, strategic, operational improvement, liquidity management, and turnaround and restructuring services. The full report is available at www.fticonsulting.com/ftiretailreport2012.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 3,800 employees located in 24 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The company generated $1.56 billion in revenues during fiscal year 2011. More information can be found at www.fticonsulting.com.
SOURCE FTI Consulting