Recessionary conditions, followed by some 18 months of slow recovery, have left many retailers and restaurant operators reluctant to invest in technology. However, current predictions and trends indicate that the time may be ripe to loosen the purse strings. For one thing, retail sales are trending upward, and other factors justify an optimistic forecast going forward. During the recent NRF Big Show, Moody’s chief economist and co-founder Mark Zandi noted in his “Retail’s Road to Recovery: Status Report on the Global Economy” Super Session presentation that,  “economic statistics are looking measurably better.” Christmas, he noted, “was good, and even very good”, and “5% to 6% nominal core retail sales growth is good performance, particularly in the context of the last several very lean years. We’re making progress.” Zandi deemed an improving job market, increased availability of credit, and the recent tax cut extension other rationales for retailers to be upbeat, predicting that “after three very lean years—a year and a half of recession and a year and a half of very weak economic recovery—2011, 2012 and 2013 are”, despite significant lingering economic challenges, “going to be very good years”.

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