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NRF: Census retail sales data shows consumers ‘still engaged’ Market research News 

NRF: Census retail sales data shows consumers ‘still engaged’

Data released by the U.S. Census Bureau shows retail sales cooled in January but that households continued to spend, National Retail Federation Chief Economist Jack Kleinhenz said. “Retail sales softened in January compared with the holiday season, but consumers were still engaged,” Kleinhenz said. “Extreme weather likely disrupted product demand and consumption patterns. January prices for goods came down, which affects sales... Read More
CNBC/NRF Retail Monitor shows January sales were strong Market research 

CNBC/NRF Retail Monitor shows January sales were strong

Retail sales showed a strong beginning for the year in January, nearly matching December’s busy holiday spending and rising significantly year over year, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation. Click here to access January’s retail data. “January sales continued the strong performance of retail sales in December, which is... Read More
NRF: Labor market and interest rates will play major roles in 2024 Market research 

NRF: Labor market and interest rates will play major roles in 2024

After a better-than-expected performance in 2023, what happens with the economy in 2024 could depend largely on the labor market and what the Federal Reserve does with interest rates, according to National Retail Federation Chief Economist Jack Kleinhenz. “Federal Reserve officials have tough policy choices ahead as they decide on what to do and when,” Kleinhenz said. “There is still... Read More
NRF: Valentine’s Day spending to reach new record  Market research 

NRF: Valentine’s Day spending to reach new record 

Valentine’s Day is returning to its romantic traditions, with total spending on significant others for the holiday expected to reach a record $14.2 billion, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. “Retailers are ready to help customers this Valentine’s Day with meaningful and memorable gifts,” said Matthew Shay, President and CEO,... Read More
NRF: Census data shows 2023 holiday sales grew 3.8% to record $964.4 billion Market research 

NRF: Census data shows 2023 holiday sales grew 3.8% to record $964.4 billion

U.S. Census Bureau data released showing core retail sales during the 2023 holiday season grew 3.8% over 2022 to a record $964.4 billion, easily meeting the National Retail Federation’s forecast despite continued inflation and high interest rates, NRF said. Sales for the full year grew 3.6% over 2022 to a record $5.13 trillion. “Consumer spending was remarkably resilient throughout 2023... Read More
CNBC/NRF: Retail monitor numbers show retailers had strong holiday season News 

CNBC/NRF: Retail monitor numbers show retailers had strong holiday season

Retail sales continued to grow in December, completing a strong holiday shopping season, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released by the National Retail Federation (NRF). “December’s numbers combined with November’s results show retailers had a very successful two-month holiday season,” said Matthew Shay, CEO and president, NRF. “Clearly, retailers got it right this holiday season,... Read More
NRF: Economist says 2023’s consumer spending growth is ‘not necessarily sustainable’ in 2024 Market research 

NRF: Economist says 2023’s consumer spending growth is ‘not necessarily sustainable’ in 2024

Consumers spent more than expected amid high inflation and high-interest rates during 2023, but spending growth is likely to slow in 2024, National Retail Federation Chief Economist Jack Kleinhenz said today. “The 2023 U.S. economy was marked in large measure by the impressive resiliency of the consumer,” Kleinhenz said. “A year ago, many commentators were skeptical and calling for a... Read More
NRF: $743 Billion in Merchandise Returned in 2023 Market research 

NRF: $743 Billion in Merchandise Returned in 2023

Retailers have been focused on efforts to mitigate returns, as total returns for the industry amounted to $743 billion in merchandise in 2023, according to a report released by the National Retail Federation and Appriss Retail. As a percentage of sales, the total return rate for 2023 was 14.5%. According to the report, for every $1 billion in sales, the... Read More
NRF: Census Retail Sales Numbers ‘On Track’ With NRF Holiday Spending Forecast   Market research News 

NRF: Census Retail Sales Numbers ‘On Track’ With NRF Holiday Spending Forecast  

November results reported by the U.S. Census Bureau today show holiday season retail sales appear likely to meet the National Retail Federation’s forecast, NRF Chief Economist Jack Kleinhenz said. “Today’s report highlights consumers’ strength and continuing capacity to spend,” Kleinhenz said. “Jobs and wage gains together with falling energy prices have supported holiday shopping as we predicted. Lower inflation for... Read More
CNBC/NRF Retail Monitor shows strong retail sales gain for first half of holiday season Market research 

CNBC/NRF Retail Monitor shows strong retail sales gain for first half of holiday season

The holiday shopping season got off to a good start in November as retail sales showed strong gains, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation. Click here to access November retail data. “November Retail Monitor data shows that consumers are embracing the holiday season and promotions being offered by retailers,”... Read More
NRF: 2023 economy has seen ‘vigorous growth’ despite recent slowdown Market research 

NRF: 2023 economy has seen ‘vigorous growth’ despite recent slowdown

After a year of challenges, the economy has proven to be healthy even as it continues to slow, said Jack Kleinhenz, chief economist, NRF, at a briefing. “The U.S. economy is on track to end 2023 with vigorous growth for the year,” Kleinhenz said. “A strong labor market, rising wages, and access to excess savings have helped spending continue despite... Read More
NRF: Thanksgiving holiday weekend sees record number of shoppers Market research 

NRF: Thanksgiving holiday weekend sees record number of shoppers

A record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. The figures surpassed NRF’s initial expectations of 182 million shoppers by more than 18 million. “The five-day period between Thanksgiving and... Read More
NRF: 2023 Holiday Sales Will Have a ‘Whole New Set of Dynamics’ News 

NRF: 2023 Holiday Sales Will Have a ‘Whole New Set of Dynamics’

Every retail holiday season since the pandemic has been unique, and that will be the case again this year, said Jack Kleinhenz, chief economist, National Retail Federation (NRF). “The last few holiday shopping seasons have been filled with unmatched peculiarities for consumers and retailers alike,” Kleinhenz said. In 2020, sales surged 9.1% year over year despite the challenges of COVID-19,... Read More
NRF: 2023 holiday to reach record spending levels  Market research 

NRF: 2023 holiday to reach record spending levels 

The National Retail Federation (NRF) forecast that holiday spending is expected to reach record levels during November and December and will grow between 3% and 4% over 2022 to between $957.3 billion and $966.6 billion. “It is not surprising to see holiday sales growth returning to pre-pandemic levels,” said Matthew Shay, President and CEO , NRF. “Overall household finances remain... Read More
NRF: Retail sales grew in September, but core year-over-year gains are slowing Market research 

NRF: Retail sales grew in September, but core year-over-year gains are slowing

Retail sales continued to grow in September even as consumers faced continuing economic pressures, said the National Retail Federation (NRF). “September retail sales show that consumers have retained the ability and willingness to spend despite accumulating economic headwinds from higher interest rates and slowing growth,” said Matthew Shay, President and CEO, NRF. “As we gear up for the holiday season,... Read More