Cooler, drier trends favor shopping
Jack Grum -- Casual Living, July 1, 2009
Last July, 70% of the nation trended warmer than normal and 56% trended warmer year-on-year. Unfortunately, it was a fairly wet month with year-on-year precipitation amounts trending 11% higher, making it the wettest retail July in 12 years for the country as a whole. The season's first land-falling hurricane, Dolly, brought heavy rain and moderate winds to South Texas. The excessively wet weather was a negative factor for outdoor categories.
This month will bring slightly cooler temperatures compared to July 2008. The cooler weather will most likely temper sales of some hot weather products such as air conditioners, ice cream and beverages.
While precipitation amounts are once again expected to trend above the 10-year average, they will trend lower than last year which will be favorable for store traffic and summer clearance sales. Lower cooling costs carrying over from June, combined with much lower year-on-year gasoline prices this July, will help consumers put aside a little extra discretionary income and hopefully lead to some increased spending overall.