NEW YORK (TheStreet) -- Despite the outlook from economists stating retail growth is faced with challenges the remainder of this year, retail sales growth will still come out strong for investors. A peek ahead looks at what may be the next key drivers of retail, economic growth, its challenges and opportunities.
American consumers are not likely to drive economic growth. Economists state that retail growth is still faced with challenges the remainder of this year however with higher income rates, consumers are expected to spend more for this year, strengthening the economic recovery.
Luxury retailer Nordstrom
(JWN - Get Report) has been making significant moves right to the top in the first half of 2014. The chain saw a rise in sales due to serving the higher-end consumer market, while Wal-Mart
(WMT - Get Report) which caters to low-and middle-income households had remained cautious resulting in the retailer experiencing weakened sales.
Why Walmart Still Has 'Significant' Opportunity Online
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