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IDC forecasts spending on GenAIsolutions will double in 2024, grow to $151.1 billion in 2027 Market research 

IDC forecasts spending on GenAIsolutions will double in 2024, grow to $151.1 billion in 2027

Gary Pageau ,
An updated forecast from International Data Corporation (IDC) shows enterprises will invest more than $19.4 billion worldwide on GenAI solutions in 2023. This spending, which includes GenAI software as well as related infrastructure hardware and IT/business services, is expected to more than double in 2024 and reach $151.1 billion in 2027 with a compound annual growth rate (CAGR) of 85.9%... Read More
NRF: Census Retail Sales Numbers ‘On Track’ With NRF Holiday Spending Forecast   Market research News 

NRF: Census Retail Sales Numbers ‘On Track’ With NRF Holiday Spending Forecast  

Gary Pageau ,
November results reported by the U.S. Census Bureau today show holiday season retail sales appear likely to meet the National Retail Federation’s forecast, NRF Chief Economist Jack Kleinhenz said. “Today’s report highlights consumers’ strength and continuing capacity to spend,” Kleinhenz said. “Jobs and wage gains together with falling energy prices have supported holiday shopping as we predicted. Lower inflation for... Read More
US Chamber: Small business index drops as small businesses’ confidence in the economy falters Market research 

US Chamber: Small business index drops as small businesses’ confidence in the economy falters

Gary Pageau ,
The Q4 MetLife and U.S. Chamber of Commerce Small Business Index shows small businesses’ confidence in the economy dropping nearly eight points from Q3. The Index score, which measures small business owner confidence, fell to 61.3 from 69.2— a return to the scores seen earlier this year and in late 2022. Small businesses’ worsening view of the national economy and their local... Read More
CNBC/NRF Retail Monitor shows strong retail sales gain for first half of holiday season Market research 

CNBC/NRF Retail Monitor shows strong retail sales gain for first half of holiday season

Gary Pageau
The holiday shopping season got off to a good start in November as retail sales showed strong gains, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation. Click here to access November retail data. “November Retail Monitor data shows that consumers are embracing the holiday season and promotions being offered by retailers,”... Read More
NRF: 2023 economy has seen ‘vigorous growth’ despite recent slowdown Market research 

NRF: 2023 economy has seen ‘vigorous growth’ despite recent slowdown

Gary Pageau ,
After a year of challenges, the economy has proven to be healthy even as it continues to slow, said Jack Kleinhenz, chief economist, NRF, at a briefing. “The U.S. economy is on track to end 2023 with vigorous growth for the year,” Kleinhenz said. “A strong labor market, rising wages, and access to excess savings have helped spending continue despite... Read More
IDC: Smartphone shipment to return to growth this quarter Market research 

IDC: Smartphone shipment to return to growth this quarter

Gary Pageau
Worldwide smartphone shipments are forecast to see 7.3% year-over-year growth in the fourth quarter of 2023 (4Q23), according to the  (IDC) Worldwide Quarterly Mobile Phone Tracker. The improved forecast for the holiday quarter follows the modest improvement in 3Q23 without further inventory buildup, which has led some channels and major OEMs to ramp up their business plans for the months ahead.... Read More
NRF: Thanksgiving holiday weekend sees record number of shoppers Market research 

NRF: Thanksgiving holiday weekend sees record number of shoppers

Gary Pageau , , ,
A record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. The figures surpassed NRF’s initial expectations of 182 million shoppers by more than 18 million. “The five-day period between Thanksgiving and... Read More
Rise Above Research announces research report schedule Market research News 

Rise Above Research announces research report schedule

Gary Pageau
Rise Above Research has announced a slate of new photo/imaging marketing research reports. 2023 US Photo Merchandise Study – The annual US consumer study that focuses on the photo merchandise market, specifically photo cards, photo books, photo calendars, and photo wall/tabletop décor. For 2023, Rise Above Research asked some new questions on photo apparel as well, which replaced questions on... Read More
NRF: Census says retail sales grew year over year in October but growth continued to slow Market research 

NRF: Census says retail sales grew year over year in October but growth continued to slow

Gary Pageau
Retail sales kept up a long streak of year-over-year gains in October even though the rate of growth continued to slow, National Retail Federation Chief Economist Jack Kleinhenz said in response to the U.S. Census Bureau’s release of monthly retail sales data today. “Fourth-quarter consumer spending stepped off on a more moderate pace, as expected,” Kleinhenz said. “The staying power... Read More
NRF: More people than ever expected to shop during Thanksgiving Holiday weekend    Market research 

NRF: More people than ever expected to shop during Thanksgiving Holiday weekend   

Gary Pageau
An estimated 182 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to the annual survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics. This figure is 15.7 million more people than last year and is the highest estimate since NRF began tracking this data in 2017.... Read More
Shutterfly survey reports young consumers prefer physical holiday cards Market research News 

Shutterfly survey reports young consumers prefer physical holiday cards

Gary Pageau
Shutterfly released the results of a survey of 2,000 adults conducted by OnePoll regarding trends in holiday cards and gifting across both product categories, spanning generations. The survey found a resurgence in the popularity of tangible holiday expressions and that traditional physical cards and personalized gifts reign supreme in conveying the sentiment of the season, the company said. According to... Read More
NRF: 2023 holiday to reach record spending levels  Market research 

NRF: 2023 holiday to reach record spending levels 

Gary Pageau
The National Retail Federation (NRF) forecast that holiday spending is expected to reach record levels during November and December and will grow between 3% and 4% over 2022 to between $957.3 billion and $966.6 billion. “It is not surprising to see holiday sales growth returning to pre-pandemic levels,” said Matthew Shay, President and CEO , NRF. “Overall household finances remain... Read More
IDC: Worldwide smartphone shipments on track for recovery Market research 

IDC: Worldwide smartphone shipments on track for recovery

Gary Pageau ,
Worldwide smartphone shipments were flat year over year to 302.8 million units in the third quarter of 2023 (3Q23), according to preliminary data from the International Data Corp. (IDC) Worldwide Quarterly Mobile Phone Tracker. Although macroeconomic uncertainties linger as markets struggle with soft demand, inflation, and geopolitical tensions, healthy inventory and the slower pace of decline are encouraging some vendors to... Read More
NRF: Retail sales grew in September, but core year-over-year gains are slowing Market research 

NRF: Retail sales grew in September, but core year-over-year gains are slowing

Gary Pageau
Retail sales continued to grow in September even as consumers faced continuing economic pressures, said the National Retail Federation (NRF). “September retail sales show that consumers have retained the ability and willingness to spend despite accumulating economic headwinds from higher interest rates and slowing growth,” said Matthew Shay, President and CEO, NRF. “As we gear up for the holiday season,... Read More
NRF economist says U.S. economy still shows resilience Market research 

NRF economist says U.S. economy still shows resilience

Gary Pageau
The U.S. economy is continuing to grow even as labor disputes across the country and uncertainty created by Congress add to the ongoing challenges of inflation and high interest rates, said Jack Kleinhenz, chief economist, National Retail Federation (NRF). ”As Gilda Radner used to say on ‘Saturday Night Live,’ ‘If it’s not one thing, it’s another,’ ” Kleinhenz said. “This is... Read More