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IDC: Nearly 415 million used smartphones will be shipped worldwide Market research 

IDC: Nearly 415 million used smartphones will be shipped worldwide

GaryPageau
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

GaryPageau
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

GaryPageau ,
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

GaryPageau ,
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
NRF: 2022 retail returns rate remains flat at $816 billion Market research 

NRF: 2022 retail returns rate remains flat at $816 billion

GaryPageau ,
Consumers are expected to return more than $816 billion worth of retail merchandise purchased in 2022, according to a report released today by the National Retail Federation and Appriss Retail. As retail sales continue to grow, the average rate of return has remained flat at 16.5% compared with 16.6% in 2021. “Even with 29 continuous months of retail sales growth,... Read More
Shutterfly study says U.S. gift-givers concerned about budgets Market research 

Shutterfly study says U.S. gift-givers concerned about budgets

GaryPageau
Personalized products leader Shutterfly announced findings from an annual holiday survey, as well as proprietary data on consumer retail trends and the company’s approach to the holiday season amidst continued inflation. Although nearly two-thirds (64%) of Americans report being concerned about the impact of rising prices on their holiday gift budgets amidst current economic pressures, but Shutterfly claims it is... Read More
NPD: Black Friday underperforms Market research 

NPD: Black Friday underperforms

GaryPageau
Black Friday week marked the sixth consecutive week of in-store sales revenue declines for U.S. discretionary general merchandise, according to the NPD Group. During the week ending Nov.26, 2022, spanning Thanksgiving, Black Friday, and Small Business Saturday, sales revenue was 5% lower than during the same week in 2021, while unit sales were down 8%, according to U.S. retailer point-of-sale... Read More
NRF: GDP growth is slower but consumer spending remains positive Market research 

NRF: GDP growth is slower but consumer spending remains positive

GaryPageau
Gross domestic product isn’t likely to grow as much in the final months of 2022 as it did in the third quarter, but consumer spending should remain strong even though its rapid pace is continuing to slow, according to National Retail Federation Chief Economist Jack Kleinhenz. “The third quarter’s results clearly dispelled the notion that the U.S. economy is in... Read More
NRF: Record 196.7 million consumers shop over Thanksgiving holiday weekend   Market research 

NRF: Record 196.7 million consumers shop over Thanksgiving holiday weekend  

GaryPageau ,
A record 196.7 million Americans shopped in stores and online during the five-day holiday shopping period from Thanksgiving Day through Cyber Monday, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. The total number of shoppers grew by nearly 17 million from 2021 and is the highest figure since NRF first started... Read More
NRF: Retail sales growing as holiday season begins Market research 

NRF: Retail sales growing as holiday season begins

GaryPageau
Retail sales grew again in October as consumers set aside concerns about inflation and many got a jump start on the holiday season, the National Retail Federation said today. “October retail sales data confirms that consumers continue to stretch their dollars on household priorities, including gifts for family and loved ones this holiday season,” said Matthew Shay, president and CEO,... Read More
NRF: Record 166.3 million shoppers expected during Thanksgiving Weekend   Market research 

NRF: Record 166.3 million shoppers expected during Thanksgiving Weekend  

GaryPageau
An estimated 166.3 million people are planning to shop from Thanksgiving Day through Cyber Monday this year, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. This figure is almost 8 million more people than last year and is the highest estimate since NRF began tracking this data in 2017. “While there is... Read More
NRF: Strong consumer fundamentals counter inflation, interest rates in holiday forecast Market research News 

NRF: Strong consumer fundamentals counter inflation, interest rates in holiday forecast

GaryPageau
The National Retail Federation INRF)  balanced high inflation and rising interest rates against strong consumer fundamentals as it developed its 2022 holiday spending forecast, said Jack Kleinhenz, NRF Chief Economist. “There are many factors impacting our holiday forecast, but business conditions are generally positive as consumer fundamentals continue to support economic activity,” Kleinhenz said. “Despite record levels of inflation, rising... Read More
IDC: Smartphone market suffers fifth consecutive decline in global shipments in Q3 Market research News 

IDC: Smartphone market suffers fifth consecutive decline in global shipments in Q3

GaryPageau , ,
Worldwide smartphone shipments declined 9.7% year over year to 301.9 million units in the third quarter of 2022 (3Q22), according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. The drop marks the largest-ever third-quarter decline and the fifth consecutive quarter of decline for the smartphone market as shipments continue to struggle amidst weakened global demand... Read More