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IBM Predicts 3 Pct Retail Revenue Rise In 2019

January 02, 2019 / pymnts

Following a strong holiday shopping season, the IBM 2019 Retail Forecast suggests that retailers will experience a 3.04 percent rise in year-over-year revenue this year. The report indicated growth among different categories from restaurants to health and personal care, Chain Store Age reported. “The buoyant sales that characterize the 2018 holiday shopping season will continue into the new year,” the company noted, according to Fox Business. “Here, the weather is expected to play a key role, as an early start to spring following a cold winter is expected, which will be a big positive for U.S. retail in the first quarter, especially apparel sales.” In particular, IBM forecasts that restaurants will experience growth of 5.23 percent, as pharmacies could see 4.05 percent growth. At the same time, the report foresees growth in health and personal care at 3.52 percent and children’s clothing at 2.65 percent.