9/9/2013 - Back-to-school season expected to be major boon for apparel retailers
It could be a banner year for business owners in the apparel industry, as a new report indicates that back-to-school shopping should bring substantial returns for the sector overall.
According to the survey, which was conducted by non-bank lender Capital Business Credit, nearly 50% of the wholesalers polled said that they are getting more orders than they did at this time last year, logging growth rates between 3 and 5%.
Andrew Tannenbaum, executive chairman of the CBC, noted that this comes as welcome news for retailers in what is still a less-than-robust economy.
"It paints a positive picture for the retail sector that not only are importers and manufacturers experiencing individual growth, but they believe the overall retail sector is also continuing to get stronger," said Tannenbaum.
He added that retail will likely continue to get stronger through the balance of 2013, provided interest rates don't increase to an exorbitant level.
With increased traffic comes added liability. Selective offers standard and optional coverages for retailers that can help keep business owners' operations up and running during what is one of the busiest, most profitable times of the year.