The past year, 2008, was already proved ill for the retailers. The recession hit them very hard with lower sales in the previous year.
They have welcomed the year 2009 with new hope to bring them their success back. But even this year doesn’t seem to be good for retailers.
People have already started their estimation and projections, to analyze how bad the year will be for them. According to one of those forecasts, retailers are to see a very tragic business year for 2009. They are going to see their first drop in revenues since a record 30 plus years. According to National Retail Federation, the revenues are going to fall by 0.5 percent in 2009. Though 2008 was bad for retailers, it wasn’t as bad as this year would be.
In 2008, retailers saw a increase of 1.4 percent in their revenues.
No good times are seen anywhere near, at least till the third quarter for this year.