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US retail trade group expects holiday season sales to grow more slowly
Read full article: US retail trade group expects holiday season sales to grow more slowlyThe largest retail trade group in the United States says it expects consumers to spend more during the upcoming holiday season but the growth in sales to be slower than last year due to concerns over persistent inflation and prices.
US retail sales to increase between 2.5% and 3.5% in 2024, trade group forecasts
Read full article: US retail sales to increase between 2.5% and 3.5% in 2024, trade group forecastsThe largest U.S. retail trade group is forecasting that the country's retail sales will increase anywhere between 2.5% and 3.5% this year.
Retail group pulls back on claim organized retail crime accounts for nearly half of inventory loss
Read full article: Retail group pulls back on claim organized retail crime accounts for nearly half of inventory lossThe National Retail Federation has revised a report released in April that pulls back the claim that organized retail crime accounts for nearly half of overall industry shrink, which measures overall loss in inventory, including theft.
Cyber Monday marks the year's biggest online shopping day, and one more chance to save on gifts
Read full article: Cyber Monday marks the year's biggest online shopping day, and one more chance to save on giftsConsumers are scouring the internet for online deals as they begin to cap off the five-day post-Thanksgiving shopping bonanza with Cyber Monday.
Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year ago
Read full article: Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year agoThe National Retail Federation, the nationโs largest retail trade group, expects shoppers will spend more this year than last year, but their spending pace will slow given all the economic uncertainty.
Retail group: Holiday sales up slower-than-expected 5.3%
Read full article: Retail group: Holiday sales up slower-than-expected 5.3%Sales growth for the holiday 2022 season slowed more than expected from its blistering pace a year ago as higher borrowing costs and higher inflation made shoppers pull back, according to the nationโs largest retail trade group.
December retail sales fall 1.1% as inflation takes a toll
Read full article: December retail sales fall 1.1% as inflation takes a tollAmericans cut back on spending in December, the second consecutive month theyโve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season.
An Easter primer: Facts, figures you might not have known about the celebration
Read full article: An Easter primer: Facts, figures you might not have known about the celebrationHereโs a synopsis of both the historical elements of Easter that people might not know about, and the modern financial windfall Easter is expected to be in 2022.
Despite supply issues and omicron, holiday sales rise 8.5%
Read full article: Despite supply issues and omicron, holiday sales rise 8.5%Holiday sales rose at the fastest pace in 17 years, even as shoppers grappled with higher prices, product shortages and a raging new COVID-19 variant in the last few weeks of the season, according to one spending measure.
Retail trade group: holiday sales could break new records
Read full article: Retail trade group: holiday sales could break new recordsThe National Retail Federation expects that holiday sales gain could shatter last yearโs record-breaking season even as a snarled global supply chain slows the flow of goods and results in higher prices for broad range of items.
All-time high of more than $10 billion is expected to be spent on Halloween 2021, according to this group
Read full article: All-time high of more than $10 billion is expected to be spent on Halloween 2021, according to this groupWhether itโs shortages that are driving up prices of certain items or enthusiasm for the day in general, one thing is clear: It looks like there will be a lot of money spent on Halloween this year.
US consumers rebound to boost spending 2.4% as income jumps
Read full article: US consumers rebound to boost spending 2.4% as income jumpsThe January spending increase followed two straight monthly spending drops that had raised concerns that consumers, who power most of the economy, were hunkered down, too anxious to travel, shop and spend. Consumers saved a significant chunk of their income last month: The personal savings rate jumped to 20.5% from 13.4% in December. It was the highest savings rate since May of last year in the aftermath of pandemic's eruption. AdGregory Daco, chief economist at Oxford Economics, said he thinks the high savings rate, combined with pent-up consumer demand and further federal aid, will lift economic growth this year to 7%. โThe combination of a healthier economy and more government stimulus should generate a strong rebound by the middle of the year.โ
U.S. retail sales fell in December for 3rd straight month
Read full article: U.S. retail sales fell in December for 3rd straight monthA sale sign is displayed near the entrance of a Hallmark store Tuesday, Jan. 12, 2021, in Orlando, Fla. Retail sales fell for a third straight month, as a surge in virus cases kept people away from stores and restaurants during the holiday shopping season. The U.S. Commerce Department said Friday that retail sales fell a seasonally adjusted 0.7% in December from the month before, a decline Wall Street analysts weren't expecting. The Commerce Department said sales even fell online, down nearly 6% after rising 19% for the year. At restaurants and bars, sales fell 4.5% in December as states restricted in-person dining, ending the year down 21%. The nationโs largest retail trade group said that when car, restaurant and gas sales are taken out, and when non-seasonably adjusted numbers are compared from a year ago instead of month to month, sales in November and December actually rose 8.3% from the year before.
Seeing more shoppers? Donโt confuse that with an economic rebound
Read full article: Seeing more shoppers? Donโt confuse that with an economic reboundMIAMI-DADE COUNTY, Fla. โ At Dolphin Mall, festive music greets buoyant holiday shoppers like Laquan Jones, who says he was back shopping for the first time since the pandemic began. But economists like Diane Swonk say we shouldnโt confuse an economic pick-up with a rebound. @DianeSwonk warns not to confuse an economic pick-up with a rebound. "Only 60.2% of consumers plan to shop In-Store during 2020 holiday shopping season. โThe current overall economic condition in Miami-Dade County is a derivative of the regional and national decline in economic activity due to the COVID-19 pandemic,โ the audit says.
Retail trade group sees solid holiday sales despite pandemic
Read full article: Retail trade group sees solid holiday sales despite pandemicNEW YORK โ The National Retail Federation, the nation's largest retail trade group, expects that holiday sales could actually exceed growth seen in prior seasons, despite all the uncertainty surrounding the pandemic. Holiday sales have averaged gains of 3.5% over the past five years. Not included in total sales figure are sales from restaurants, gas stations and auto dealers. Still, the NRF cited that the aggregate retail sales have seen a V-shaped recovery, growing both month-over-month and year-over-year each month since June. For the first ten months of this year, retail sales rose 6.4% compared with the first 10 months of 2019.
Retailers expect a strong holiday shopping season
Read full article: Retailers expect a strong holiday shopping seasonGetty Images via CNN(CNN) - Retailers expect consumers to deliver another strong holiday shopping season, even as the trade war hangs over the economy. Even so, retail sales in November and December will nevertheless grow between 3.8% and 4.2%, to up to $730 billion, the National Retail Federation predicted Thursday. Holiday sales have increased by an average of 3.7% over the past five years, according to the group. Job growth, a low unemployment rate and rising wages will bolster holiday spending, Shay said. The trade war between China and the United States, the world's two largest economies, is weighing on retailers.