U.S. consumer spending rose more than expected in December as Americans spent at the fastest pace in three years. The Commerce Department reported that spending rose 0.7% in December, the sixth straight monthly increase.
It turns out the announcement earlier today by Walmart that Duncan Mac Naughton would serve as head merchant of the company’s U.S. division was but one component of a more extensive shakeup at the company.
With the large amount of excess store space available for lease in 2010, more retailers used pop-up stores this past holiday season than ever before. This concept is now transforming into a viable strategy that has a life beyond the holiday season rush. In 2011 innovative retailers will employ it as a year-round approach that complements their core business strategy.