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Inside.com: Capital expenditures expected to be smaller this year Market research 

Inside.com: Capital expenditures expected to be smaller this year

GaryPageau
Inside.com reports capital spending by U.S. manufacturers is forecast to increase by 1% this year, down from a 14.9% annual increase in 2023. The U.S. Federal Reserve is keeping interest rates at a 23-year high, which is forcing many companies to slow down capital expenditures. Michigan-based Fullerton Tool Co. has delayed plans to spend $1 million upgrading the equipment it uses... Read More
CNBC/NRF Retail Monitor: Retail sales jumped in May after a slow April Market research News 

CNBC/NRF Retail Monitor: Retail sales jumped in May after a slow April

GaryPageau
Retail sales jumped significantly in May, showing strong increases both month over month and year over year, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released by the National Retail Federation. “Consumers have clearly retained their ability to spend and are driving solid economic growth,” said Matthew Shay, president and CEO, NRF. “Spending is being supported by the... Read More
Fewer positions left unfilled in cooling U.S. labor market Market research News 

Fewer positions left unfilled in cooling U.S. labor market

GaryPageau ,
Businesses having difficulty finding employees may getting relief soon. According to  a report in Statista by Felix Richter, a data journalist: “As the U.S. labor market is slowly cooling off and job openings have come down from notably from 2022’s record highs, the worker crunch that plagued many industries for large parts of 2021 and 2022 has eased as well> According to... Read More
IDC: Worldwide smartphone shipments forecast to recover with 4.0% growth in 2024 Market research News 

IDC: Worldwide smartphone shipments forecast to recover with 4.0% growth in 2024

GaryPageau ,
Worldwide smartphone shipments are forecast to grow 4.0% year over year in 2024 to 1.21 billion units, according to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. The growth in 2024 adds momentum to the overall recovery IDC expects throughout the forecast as consumer demand slowly rebounds from the dismal past few years. The recovery will continue in 2025... Read More
CNBC/NRF Retail Monitor shows retail sales grew in April Market research 

CNBC/NRF Retail Monitor shows retail sales grew in April

GaryPageau
Retail sales grew modestly from the month before in April, but a shift in the timing of Easter appeared to be behind a slight year-over-year decline, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released by the National Retail Federation. “Consumer spending continues to drive economic growth and retail sales increases, though we see some moderation in spending... Read More
NRF: First quarter results show economy is slowing but ‘remains resilient’   Market research 

NRF: First quarter results show economy is slowing but ‘remains resilient’  

GaryPageau
Economic growth slowed during the first three months of the year, but consumers are still spending more than last year, said National Retail Federation Chief Economist Jack Kleinhenz. “The U.S. economy lost some spring in its step during the first quarter as the pace of growth declined, and the downshift came with an unexpected bout of inflation,” Kleinhenz said, noting... Read More
IDC: Chinese smartphone market maintains its recovery momentum at 6.5% growth in 1Q24, Market research 

IDC: Chinese smartphone market maintains its recovery momentum at 6.5% growth in 1Q24,

GaryPageau ,
According to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, China smartphone shipments grew 6.5% year over year (YoY) to 69.3 million units in 1Q24. Although the growth was supported by a low comparison base year, it marks the second consecutive quarter of growth adding momentum to the market recovery. The market saw better-than-expected shipments mainly... Read More
NRF: Consumers expected to spend near-record $33.5 billion on Mother’s Day Market research 

NRF: Consumers expected to spend near-record $33.5 billion on Mother’s Day

GaryPageau ,
Mother’s Day spending is expected to reach $33.5 billion this year, according to the annual consumer survey released today by the National Retail Federation and Prosper Insights & Analytics. The figure is the second highest in the history of the survey, following last year’s record $35.7 billion. “Mother’s Day is a time to celebrate the women who play a meaningful role in... Read More
Rise Above Research: U.S. photo merchandise shows stability amid challenges Market research 

Rise Above Research: U.S. photo merchandise shows stability amid challenges

GaryPageau , ,
The photo merchandise market has proven to be very stable amid economic and market challenges, according to Rise Above Research’s 2024 US Photo Merchandise Forecast. The company said 2024 will see an overall increase of just under 2% in unit sales, driven by nominal increases in nearly every product area. Sales of photo cards, photo books, photo calendars, and photo... Read More
IDC: Worldwide smartphone market up 7.8% in 1Q, Samsung regains number 1 spot Market research 

IDC: Worldwide smartphone market up 7.8% in 1Q, Samsung regains number 1 spot

GaryPageau ,
According to preliminary data from the International Data Corp. (IDC) Worldwide Quarterly Mobile Phone Tracker , global smartphone shipments increased 7.8% year-over-year to 289.4 million units in the first quarter of 2024 (1Q24). While the industry is not completely out of the woods, as macroeconomic challenges remain in many markets, this marks the third consecutive quarter of shipment growth, a strong... Read More
CNBC/NRF Retail Monitor: Retail sales grew in March amid wage gains, easing inflation Market research 

CNBC/NRF Retail Monitor: Retail sales grew in March amid wage gains, easing inflation

GaryPageau ,
Retail sales grew at a steady pace in March, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation (NRF). “As inflation for goods levels off, March’s data demonstrates steady spending by value-focused consumers who continue to benefit from a strong labor market and real wage gains,” said Matthew Shay, president and CEO,... Read More
Futuresource projecting increased market value for Western Europe photo products Market research News 

Futuresource projecting increased market value for Western Europe photo products

GaryPageau
Futuresource Consulting is estimating the photo-output market value for the top six major Western Europe markets (Benelux, France, Germany, Italy, Spain, United Kingdom) will have 16% projected value growth from 2022 through 2027. The company said 2021 was a challenging year for photo output, due to the impact of the COVID-19 pandemic on print-worthy images, while 2022 showed 11% value... Read More
CIPA projects camera decline in 2024 but the year is looking good so far Market research 

CIPA projects camera decline in 2024 but the year is looking good so far

GaryPageau
The Japanese Camera & Imaging Products Association (CIPA) announced its outlook forecast on the ‘shipment by product-type concerning cameras and related goods for 2024’ and expects a decrease compared to 2023. Readers should note, however, CIPA data covers products made by member companies including OM Digital Solutions Corp.,  Carl Zeiss Co. Ltd. Canon Inc., SIGMA Corp., Kenko Tokina Co. Ltd.,... Read More
NRF: Economy remains ‘sturdy’ despite forecast for slower growth Market research News 

NRF: Economy remains ‘sturdy’ despite forecast for slower growth

GaryPageau
Despite expectations for slower growth of both gross domestic product and retail sales, the economy should continue to do well for the remainder of this year, according to Jack Kleinhenz, chief economist, of the National Retail Federation (NRF). “No one can accurately forecast what surprises the next year might hold, but the foundation of the economy is relatively sturdy and... Read More
2024 Easter spending expected to top $22 billion Market research 

2024 Easter spending expected to top $22 billion

GaryPageau ,
Consumer spending is expected to reach a total of $22.4 billion this Easter, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. The total figure is the second highest in the survey’s history, after last year’s record-setting $24 billion when the holiday fell nine days later in the year. “Each year, Americans look... Read More