Retail Sales Across Multiple Segments were up in October.
Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc
According to TRADINGECONOMICS Retail sales in the US surged 1.3% month-over-month in October of 2022, the strongest increase in eight months, after a flat reading in September and beating market forecasts of a 1% gain. Sales at motor vehicle dealers were up 1.3% as supply chain constraints have been easing while rising gasoline costs pushed sales at gasoline stations 4.1% higher. Excluding gasoline and autos, retail sales were up 0.9%. Other increases were also seen for sales at food services and drinking places (1.6%), food and beverages stores (1.4%).
When results for this quarter are reported, we believe margins will also rise when looking at the cost savings we are seeing for our retail customers. If you want better margins and better earnings, maybe it’s time to talk to SafeSourcing about our risk-free trial. Sales up and costs down is a perfect formula
SafeSourcing is a Procure to Pay SaaS based provider of a number of e-Procurement solutions and associated white glove services that are part of our SaaS offered SafeSourceIt™ eSourcing suite. These include but are not limited to SafeContract™, SafePO™, SafeDocument™ and our SafeSourceIt™ Global Supplier Database that includes over 557,000 vendor/suppliers.
To learn more, please contact a SafeSourcing customer services associate.