As consumer confidence picks up steam heading in 2017 cash counters will prove useful
If you're looking for a way to get ahead in 2017, investing in cash counters may prove to be the most prescient move considering the momentum Canadian consumer confidence built up as it headed into the new year. The greater number of consumers signaling their optimism means similarly bigger numbers heading to stores, even when it means braving the winter cold, to take advantage of postâ-holiday sales and get a jump on the new year. Knowing this, retailers should make all the preparations necessary to likewise hit the ground running in 2017.
Spate of surveys show confidence, need for cash counters
The close-of-the-year uptick in consumer confidence was apparent in two highly looked-to measures of the trend. The Conference Board of Canada's Index of Consumer Confidence rose 1.1 points in December to reach 103.8 and solidify its second straight month of gains after a six-point bump seen in November. The organization said sentiment increased in both Quebec and Ontario, while the overall increase in optimism was largely fed by improved labor outlooks among survey respondents.
"Despite the underwhelming pace of full-time job creation seen of late, Canadians appear to be holding out hope for greater opportunities in the new year ..." said Matthew Stewart, associate director, The Conference Board of Canada.
In a separate monitor of confidence, the Bloomberg Nanos Canadian Confidence Index rose to 56.7 in the week of Dec. 23. The value is a three-month high. Bloomberg noted the rosier sentiment was likely due to more optimistic views on the future of the economy, as well as more fortuitous personal finance situations experienced among respondents.
The heightened optimism being exhibited by Canadian consumers is definitely something retailers need to pick up on. Investing in cash counters to ensure efficient and optimized day-to-day operations could prove the difference in setting the foundation for a strong year.