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NRF forecasts 2023 retail sales to grow between 4% and 6% Market research 

NRF forecasts 2023 retail sales to grow between 4% and 6%

Gary Pageau
The National Retail Federation (NRF) issued its annual forecast, anticipating that retail sales will grow between 4% and 6% in 2023. In total, NRF projects that retail sales will reach between $5.13 trillion and $5.23 trillion this year. “In just the last three years, the retail industry has experienced growth that would normally take almost a decade by pre-pandemic standards,”... Read More
NRF: Core retail sales grew in February amid strong labor market Market research 

NRF: Core retail sales grew in February amid strong labor market

Gary Pageau
Overall retail sales dipped slightly in February, but core spending rose, the National Retail Federation said today. “February’s retail sales growth is not surprising given the strong growth we saw last month, continuing to reflect consumers’ ability and willingness to spend thoughtfully on household priorities,” said Matthew Shay, CEO and president, NRF. “While recent volatility in banking and financial markets... Read More
IDC: Global smartphone shipments expected to decline 1.1% in 2023 Market research 

IDC: Global smartphone shipments expected to decline 1.1% in 2023

Gary Pageau
International Data Corporation (IDC) has revised its worldwide smartphone forecast due to a slower market recovery than previously expected. According to the latest Worldwide Quarterly Mobile Phone Tracker forecast, shipments of smartphones will decline 1.1% in 2023 to 1.19 billion units, down from the 2.8% growth in the prior forecast as the market continues to suffer from weak demand and ongoing... Read More
NRF: Retail sales picked up in January Market research News 

NRF: Retail sales picked up in January

Gary Pageau
Retail sales bounced back strongly in January as inflation eased and income grew, the National Retail Federation (NRF) said. “Despite inflationary headwinds, January retail sales show the resiliency of consumers in how they manage their budgets and make decisions on how, when and where to spend their hard-earned dollars,” said Matthew Shay, NRF President and CEO. “Retailers understand the needs... Read More
IDC: China’s smartphone market fell 13.2% to a decade low in 2022 Market research 

IDC: China’s smartphone market fell 13.2% to a decade low in 2022

Gary Pageau , ,
According to the IDC Worldwide Quarterly Mobile Phone Tracker, 285.8 million smartphones shipped in China in 2022, down 13.2% year-on-year (YoY) to below the 300 million mark for the first time in ten years. In 4Q22, the market declined 12.6% YoY to 72.9 million units. Both full-year 2022 and 4Q22 shipments were near their decade-ago levels as the strict COVID policy... Read More
Rise Above Research estimates 1.6 trillion photos will be taken in 2023 Market research News 

Rise Above Research estimates 1.6 trillion photos will be taken in 2023

Gary Pageau
The number of photos captured globally has continued to grow after a decline caused by the COVID-19 pandemic in 2020, with Rise Above Research estimating 1.6 trillion photos will be taken in 2023. This represents a 7.5% increase over 2022 and growth is expected to continue, driven by the popularity of smartphones. “Photography is more popular than ever, when you... Read More
IDC: Smartphone shipments suffer 18.3% drop in the holiday quarter Market research 

IDC: Smartphone shipments suffer 18.3% drop in the holiday quarter

Gary Pageau ,
Worldwide smartphone shipments declined 18.3% year over year to 300.3 million units in the fourth quarter of 2022 (4Q22), according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. The drop marks the largest-ever decline in a single quarter and contributed to a steep 11.3% decline for the year. 2022 ended with shipments of 1.21 billion... Read More
NRF: Consumers plan to increase Valentine’s Day spending to nearly $26 billion Market research 

NRF: Consumers plan to increase Valentine’s Day spending to nearly $26 billion

Gary Pageau
Consumers are expected to spend $25.9 billion on Valentine’s Day this year, up from $23.9 billion in 2022 and one of the highest spending years on record, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. “Valentine’s Day is a special occasion to shop for the people we care most about,” said Matthew... Read More
NRF: 2022 holiday sales grew 5.3% to $936.3 billion Market research News 

NRF: 2022 holiday sales grew 5.3% to $936.3 billion

Gary Pageau
Retail sales during 2022’s November-December holiday season grew 5.3% over 2021 to $936.3 billion, falling short of the National Retail Federation’s forecast amid continuing inflation and high interest rates, NRF said today. While holiday growth was less than expected, sales for the year grew 7% over 2021 to $4.9 trillion, meeting NRF’s forecast of between 6% and 8% growth for... Read More
IDC: Nearly 415 million used smartphones will be shipped worldwide Market research 

IDC: Nearly 415 million used smartphones will be shipped worldwide

Gary Pageau
International Data Corporation (IDC) estimates worldwide shipments of used smartphones, including officially refurbished and used smartphones, will reach 282.6 million units in 2022. The unit growth represents an 11.5% increase over the 253.4 million units shipped in 2021. This growth is expected to continue as IDC forecasts that used smartphone shipments will reach 413.3 million units in 2026 with a... Read More
NRF: Balance between inflation and interest rates is key to avoiding recession Market research 

NRF: Balance between inflation and interest rates is key to avoiding recession

Gary Pageau
It’s too soon to say whether the Federal Reserve’s efforts to reduce inflation will lead to a recession, but continuing interest rate hikes increase the chances, said National Retail Federation Chief Economist Jack Kleinhenz. “This year starts with the possibility of easing inflation but also uncertainty,” Kleinhenz said, referring to the interest rate hikes. “There is no easy fix for... Read More
IDC: Global smartphone shipments continue to be Impacted by slowed demand and setbacks in China Market research 

IDC: Global smartphone shipments continue to be Impacted by slowed demand and setbacks in China

Gary Pageau ,
An updated forecast for the worldwide smartphone market from IDC is showing a more prolonged recovery than previously expected. According to the latest Worldwide Quarterly Mobile Phone Tracker forecast, shipments of smartphones will decline 9.1% in 2022, a reduction of 2.6 percentage points from the previous forecast. As a result, IDC expects smartphone shipment volumes to total 1.24 billion units in 2022. While... Read More
Holiday season profits crucial for small businesses, inflation concerns remain Market research 

Holiday season profits crucial for small businesses, inflation concerns remain

Gary Pageau ,
The quarterly MetLife and U.S. Chamber of Commerce Small Business Index reveals this holiday season is critical for small businesses’ finances. Eight in 10 (79%) say the holiday season is important for their overall profit, up from 70% who said the same last year. At the same time, inflation remains a top concern. This marks the fourth consecutive quarter that inflation... Read More