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NRF: First quarter showed challenges of bringing inflation under control Market research News 

NRF: First quarter showed challenges of bringing inflation under control

GaryPageau
Slower-but-continued growth in gross domestic product and other economic indicators during the first quarter showed the difficulty of bringing inflation under control, National Retail Federation Chief Economist Jack Kleinhenz said in the May issue of NRF’s Monthly Economic Review. “The World Health Organization says the pandemic is over, and the U.S. government has ended its declaration of a public health... Read More
NRF: Consumers to spend record $35.7 billion for Mother’s Day Market research 

NRF: Consumers to spend record $35.7 billion for Mother’s Day

GaryPageau ,
Consumers plan to spend a total of $35.7 billion on Mother’s Day this year, nearly $4 billion more than last year’s record high of $31.7 billion, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. Eighty-four percent of U.S. adults are expected to celebrate the holiday. “Mother’s Day provides Americans with an... Read More
Zenfolio releases the 2023 State of the Photography Industry Report Market research 

Zenfolio releases the 2023 State of the Photography Industry Report

GaryPageau
Zenfolio released its latest State of the Photography Industry Report, providing insights into the photography industry from the perspectives of professional photographers and their businesses, and is the fourth conducted since 2021. The report is derived from survey participants who primarily specialize in Portrait, Landscape, Wedding, Sports, and Family photography. The survey respondents were mostly part-time or full-time self-employed with... Read More
Canva introduces The Visual Economy Report Market research 

Canva introduces The Visual Economy Report

GaryPageau
Canva released The Visual Economy Report featuring actionable data from 1,600 global business leaders. The company claims the report “provides the most comprehensive view into how global business leaders are approaching visual communication principles internally and externally to run more efficient teams, build stronger audience engagement, and fuel greater economic returns on their business.” Among the top findings of The Visual Economy... Read More
NRF: Retail Sales ‘Moderated’ in March But Still Sees ‘Positive Growth’ for 2023 Market research 

NRF: Retail Sales ‘Moderated’ in March But Still Sees ‘Positive Growth’ for 2023

GaryPageau
Retail sales slowed in March, but spending was still higher than at the same time last year, said the National Retail Federation. “Retail sales moderated in March after posting strong gains in the first two months of the year,” said Matthew Shay, NRF President and CEO. “Continued easing of inflation and the overall strength of the job market and wages... Read More
NRF forecasts 2023 retail sales to grow between 4% and 6% Market research 

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

GaryPageau
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

GaryPageau
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

GaryPageau
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

GaryPageau
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

GaryPageau , ,
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

GaryPageau
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

GaryPageau ,
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

GaryPageau
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

GaryPageau
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