Online Heavy and Store Light; Many Express Clear Strategic Focus on the Growth of Digital Interactions
- Financial Conditions Remain Strong for Many Middle Market Retailers
- Increased Sales Projected for FY16
- Continued Growth Expected over the Next Three Years
- Physical Stores to Play a More Complementary Role to Digital Plans
According to the 8th annual CIT Retail Outlook(cit.com/retailoutlook), 80% of middle market retailers rate their overall financial condition as healthy or very healthy. Many are cautiously optimistic about the upcoming holiday season and the near-term future. Sixty percent expect an increase in total sales of more than 5% for the 2016 holiday season, compared to only 33% three years ago. The online study was conducted in August 2016 among 310 financial decision makers within the retail industry (259 middle market retailers and 51 large retailers) by Harris Poll on behalf of CIT Group Inc. (NYSE:CIT), a leading provider of commercial lending and leasing services.