There have been many discussions on the news regarding consumer buying confidence and its relation to the current state of the stock market. On Wednesday, July 29th, the Commerce Department released data that showed new durable goods orders fell 2.5% in June, which is the largest percentage drop since January, after rising in May. However, if you take away the transportation (aircrafts, cars, and boats) sector, orders were actually up 1.1% in June. This was the largest advance in four months!
The next day, Fox News came in to Abt Electronics to find out how sales and buying confidence were doing. Fox chose Abt because we are one of the largest single-store retailers in the country. Carina Soon spoke with Jon Abt and General Manager Marc Cook about how business is going and if we had been impacted by the down economy. As with most businesses, certain departments have decreased in sales. But unlike those businesses, our main store has seen an increase in sales. This tells us that even when the stock market is facing hardships, our core values are what keep our customers coming back. “Everyday low prices, wide selection, free shipping and quality service.” – Jenn A.