Tomorrow is Boxing Day, the most important shopping day in a year in the West; and I expect that it will create a sales record tomorrow and I have these following several reasons.
Firstly, there is an inflation. This means even with the same real value, this year’s nominal value is definitely higher than the previous year’s nominal value. Secondly, retailers have great significant incentives to boost their sales on this particular day. Boxing Day sales are one of the most important figures that investors and banks pay attention to. If retailers can have very good sales records, they are easier to have access to more finance. Thirdly, the GDP is growing over years, this indicates the population is becoming more wealthier. When individuals become wealthier, they are more likely to spend more. Fourthly, more of the goods people buy need frequent updates, this forces people to buy the updates more frequently. This means people may buy similar goods every year, and the prices tend to be higher every year, since they are updates. Therefore, the revenues will increase over time.
To conclude, I expect this year the Boxing Day will create new sales record.
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