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NRF: Consumers still spending despite worries over inflation and interest rates Market research News 

NRF: Consumers still spending despite worries over inflation and interest rates

Consumers remain worried about high inflation and Federal Reserve interest rate hikes intended to bring inflation under control, but neither has stopped them from spending, National Retail Federation (NRF) Chief Economist Jack Kleinhenz said today. “The economic situation in the United States is unsettling,” Kleinhenz said. “Consumer confidence is down, consumer spending’s rate of growth has slowed, and economists and consumers... Read More
NRF: Halloween participation and spending returns to pre-pandemic levels Market research 

NRF: Halloween participation and spending returns to pre-pandemic levels

Participation in Halloween-related activities will resume to pre-pandemic levels, with 69% of consumers planning to celebrate the holiday this year, up from 65% in 2021 and comparable to 68% in 2019, according to the National Retail Federation (NRF)’s annual survey conducted by Prosper Insights & Analytics. With the spike in participation, total Halloween spending is expected to reach a record... Read More
Futuresource: Western European photo printing market to grow +22% from 2021 to 2026 Market research News 

Futuresource: Western European photo printing market to grow +22% from 2021 to 2026

  Futuresource Consulting recently published the annual Western Europe top-6 markets Photo Output (Printing) Market Reports (covering B2C (consumer-ordered) Photo Prints, Photobooks and Photo-Merchandise (photo calendars, cards, wall décor and gifts) for Benelux, France, Germany, Italy, Spain, UK). According to a LinkedIn post from Jeremy Wills, “2022 market value is set to rise by nearly +10% on 2020 levels, and,... Read More
IDC: Global smartphone shipments expected to decline 6.5% in 2022 Market research 

IDC: Global smartphone shipments expected to decline 6.5% in 2022

According to the latest International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker forecast, shipments of smartphones will decline 6.5% to 1.27 billion units in 2022. The decline is due to record-breaking inflation, geopolitical tensions, and other macroeconomic challenges that have significantly dampened consumer demand. As a result, the latest forecast figures represent a reduction of three percentage points from previous... Read More
NRF: July retail sales show consumers still shopping despite inflation Market research 

NRF: July retail sales show consumers still shopping despite inflation

Core retail sales as calculated by the National Retail Federation rose in July even as overall sales reported by the Census Bureau remained flat on a monthly basis, and both calculations showed strong year-over-year gains as consumers kept shopping despite high inflation, NRF said today. “Retail sales grew in July, supported by declines in prices at the gas pump and... Read More
Rise Above Research: U.S. photo print market in steady state amid market challenges Market research 

Rise Above Research: U.S. photo print market in steady state amid market challenges

The photo print market has reached a state of equilibrium over the last several years, but prints remain a very relevant segment of the photo imaging market as they still appeal to consumers young and old, and still present opportunities to vendors, according to Rise Above Research, an industry marketing research firm. 2022 will see an overall volume increase of... Read More
NRF: Economy is Strong Enough to ‘Keep a Recession at Bay’ Market research 

NRF: Economy is Strong Enough to ‘Keep a Recession at Bay’

Despite two consecutive quarters of decline, the U.S. economy still does not appear to be in a recession and remains unlikely to enter one this year, said Jack Kleinhenz, chief economist, National Retail Federation. “Back-to-back contractions have heightened fear of a recession, but while the economy has lost momentum heading into the second half of the year, economic data is... Read More
HomeJab lists most popular real estate listing photos Market research News 

HomeJab lists most popular real estate listing photos

A new study of real estate photography data from HomeJab finds the most popular real estate listing photo is not the home’s front exterior. Instead, bedroom photos were ranked first, barely nudging out kitchen photos. Front exterior shots placed a distant fifth. HomeJab, which provides real estate agents on-demand professional real estate photography and other visual production services, partnered with Artificial Intelligence firm Restb.ai to... Read More
IDC: Smartphone shipments decline for the fourth consecutive quarter Market research 

IDC: Smartphone shipments decline for the fourth consecutive quarter

Worldwide smartphone shipments declined 8.7% year over year in the second quarter of 2022 (2Q22), according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. This marks the fourth consecutive quarter of decline for the smartphone market as shipments fell to 286.0 million units in the quarter, about 3.5% lower than forecast. “What started out as... Read More
NRF: June retail sales increased despite rising inflation Market research News 

NRF: June retail sales increased despite rising inflation

Retail sales increased in June even as inflation climbed higher and drove up prices across the board, said the National Retail Federation  (NRF). “June retail sales data shows that consumers remain on solid footing despite rising prices and an active Fed raising interest rates to combat it,” said Matthew Shay, president and CEO, NRF. “Inflation has consumers modifying their spending... Read More
Zenfolio reports on photographers diversifying their businesses Market research 

Zenfolio reports on photographers diversifying their businesses

Zenfolio has revealed the results of its latest “State of Photography Industry Report,” highlighting how photographers adapted their businesses following the COVID-19 pandemic. As with most job positions that weren’t deemed “essential”, but that required in-person interaction, photographers took a big hit to their bookings, and ultimately, to their paychecks. Not surprisingly, photographers reported significant revenue drops. The company surveyed... Read More
NRF: Families prioritize back-to-school, college spending amidst rising inflation Market research 

NRF: Families prioritize back-to-school, college spending amidst rising inflation

As inflation continues to rise, one-third of consumers (38%) said they are cutting back in other spending areas to cover the cost of items for the upcoming school year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. Families expect to spend more per person on both K-12 and college items this year... Read More
NRF: May retail sales slow amid ongoing inflation Market research News 

NRF: May retail sales slow amid ongoing inflation

Retail sales slowed in May as consumers faced continuing inflation and higher prices for essentials like food and gasoline, according to the National Retail Federation (NRF). “Retail sales are reflecting Americans’ growing concern about inflation and its impact on the cost of everything from groceries to gas,” NRF President and CEO Matthew Shay said. “Retailers are doing what they can... Read More
Global smartphone shipments expected to decline 3.5% in 2022 Market research 

Global smartphone shipments expected to decline 3.5% in 2022

According to an International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker forecast, shipments of smartphones will decline 3.5% to 1.31 billion units in 2022. After three consecutive quarters of decline and increasing challenges in both supply and demand, IDC has significantly reduced its forecast for 2022 from the previous projection of 1.6% growth. IDC expects, however, this to be a... Read More