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NRF: June retail sales increased despite rising inflation Market research News 

NRF: June retail sales increased despite rising inflation

Gary Pageau
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

Gary Pageau
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

Gary Pageau
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

Gary Pageau
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

Gary Pageau
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
NRF: Economy ‘being rebalanced’ but ‘extreme cooling off’ seems unlikely Market research 

NRF: Economy ‘being rebalanced’ but ‘extreme cooling off’ seems unlikely

Gary Pageau
The Federal Reserve faces “a tricky job” in addressing inflation but continuing growth in employment, wages and consumer spending make it unlikely the effort will backfire into a major setback for the economy, said Jack Kleinhenz, chief economist, National Retail Federation. “With changes underway that focus on taming inflation without splintering the economy, the nation’s economic system is in the... Read More
Rise Above Research: Photo printing still important to consumers Market research 

Rise Above Research: Photo printing still important to consumers

Gary Pageau
According to a new study from Rise Above Research, most consumers still print photos, despite the ability to view and share the photos electronically on mobile devices or computers. This is true across all age groups, which leaves the door open for opportunities to get consumers to print more than they do now. The 25-34-year-old age group has the highest... Read More
NRF: Consumers to spend $20 billion on Father’s Day Gifts Market research 

NRF: Consumers to spend $20 billion on Father’s Day Gifts

Gary Pageau
Consumer spending this Father’s Day is expected to total $20 billion, nearly on par with last year’s record-setting figure of $20.1 billion, according to the annual consumer survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics. Approximately 76 percent of U.S. adults are expected to celebrate Father’s Day. “Despite growing concerns about inflation, consumers plan... Read More
NRF: April retail sales grew with consumers ‘taking higher prices in stride’ Market research 

NRF: April retail sales grew with consumers ‘taking higher prices in stride’

Gary Pageau ,
Consumers accustomed to inflation continued to spend in April as retail sales overcame higher prices to show both monthly and year-over-year increases, the National Retail Federation (NRF) said today. “April retail sales demonstrate consumer strength and willingness to spend despite persistent inflation, supply chain constraints, market volatility and global unrest,” said Matthew Shay, president and CEO, NRF. “While consumers are... Read More
Professional photography industry statistics of 2021 and trends for 2022 Feature Market research 

Professional photography industry statistics of 2021 and trends for 2022

Gary Pageau
If you are looking to become a professional photographer or boost your career, looking at past photography trends and predictions for the industry’s future is an excellent starting point. To successfully navigate the professional photography industry in 2022, it’s crucial that you understand which types of photography have become more, and less, popular. A good indicator of what kind of... Read More
IDC identifies 10 key tech trends driving consumer behavior and markets Market research 

IDC identifies 10 key tech trends driving consumer behavior and markets

Gary Pageau
As digital transformation takes root across the consumer ecosystem, businesses must expand and deepen their relationships with consumers to better understand their wants, needs, and aspirations. With its expanded Future Consumer research, International Data Corporation (IDC) is helping businesses – whether they serve consumers directly or indirectly – better align their products, services, and business strategies with a rapidly evolving... Read More
NRF says economy should continue ‘bustling forward’ Market research News 

NRF says economy should continue ‘bustling forward’

Gary Pageau
The economy’s fast-paced growth could slow somewhat as the Federal Reserve tries to bring inflation under control in the next few months, but consumers are likely to keep on shopping as lower inflation eases uncertainty, said Jack Kleinhenz, chief economist, National Retail Federation. “The Fed’s tightening has kicked off a new cycle of adjustment and the outlook for interest rates... Read More
Rise Above Research: US Photo Merchandise on Strong Road to Recovery After Pandemic Downturn Market research News 

Rise Above Research: US Photo Merchandise on Strong Road to Recovery After Pandemic Downturn

Gary Pageau
The photo merchandise market has been recovering well from the downturn it experienced during the heights of the COVID-19 pandemic, with growth predicted in both unit sales and revenue through 2026, according to Rise Above Research’s 2022 US Photo Merchandise Forecast. 2022 will see an overall increase of 4% in unit sales, driven by an increase in photo cards that... Read More
IDC: First-quarter smartphone shipments declined 8.9% Market research 

IDC: First-quarter smartphone shipments declined 8.9%

Gary Pageau ,
Worldwide smartphone shipments declined 8.9% year over year in the first quarter of 2022 (1Q22), according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. This marks the third consecutive quarter of decline for the smartphone market as shipments fell to 314.1 million units in the quarter, about 3.5% lower than IDC forecast in February. “Although... Read More
Format, Zenfolio publish 2022 State of the Photography Industry report Market research 

Format, Zenfolio publish 2022 State of the Photography Industry report

Gary Pageau ,
Following a survey of more than 3,300 global photographers this past March, trends clearly show the industry is emerging from the fog of COVID as many aspects of society and business return to normal, according to a recently released survey. Since the first State of the Photography Industry Survey was conducted in February 2021 and repeated in May 2021, Zenfolio and Format continue... Read More