Great American Group Analysts Observe Cautious Spending Trends
- Recent report shows initial spending cutbacks on the part of consumers have abated -
WOODLAND HILLS, Calif.--(BUSINESS WIRE)-- According to analysts with Great American Group, Inc. (OTCBB: GAMR), consumer spending has rebounded following a positive, albeit slower than anticipated, holiday season. Post-holiday results in January were hampered by lower paychecks resulting from certain tax break expirations. However, the current outlook is cautiously optimistic.
Great American Group's latest Retail Monitor notes that consumers continue to feel the pressure of elevated gas prices and a high unemployment rate, and therefore have been cutting back on excesses by preparing more meals at home and searching for deals.
Regardless of the spending caution, there continues to be some bright spots in the retail sector.
"E-commerce continues to shine, and many off-price, discount and dollar store retailers continue to report positive results as consumers look to save," said David Triompo, managing director of consumer products for Great American Group's Advisory and Valuation Services division. "Many dollar stores have also been expanding their store bases."
Other retail sectors are more in flux. "The consumer electronics market continues to be altered by changing mobile phone technology and other factors; and the books, music and video sectors have been on the decline," Triompo added.
Going forward, caution remains due to macroeconomic concerns. Although the economy remains fragile, industry analysts are hopeful that consumers will weather the storm and increase spending going forward.
Great American Group's premier Retail Monitor with industry trends is available on the company's website at http://www.greatamerican.com/news_media/downloads/Mar_2013_Retail_Monitor.pdf.
For more information about asset disposition, valuation and advisory services available through Great American Group, visit www.greatamerican.com.
About Great American Group, Inc. (OTCBB: GAMR)
Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. The company has in-depth experience within the retail, industrial, real estate, healthcare, energy and technology industries. The corporate headquarters is located in Woodland Hills, Calif. with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago, Dallas, New York, San Francisco and London. For more information, call 818-884-3737 or visit www.greatamerican.com.
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