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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

GaryPageau
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

GaryPageau ,
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

GaryPageau
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

GaryPageau ,
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  

GaryPageau ,
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

GaryPageau
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

GaryPageau ,
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

GaryPageau , , ,
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’

GaryPageau
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 

GaryPageau
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

GaryPageau
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
NRF economist says U.S. economy still shows resilience Market research 

NRF economist says U.S. economy still shows resilience

GaryPageau
The U.S. economy is continuing to grow even as labor disputes across the country and uncertainty created by Congress add to the ongoing challenges of inflation and high interest rates, said Jack Kleinhenz, chief economist, National Retail Federation (NRF). ”As Gilda Radner used to say on ‘Saturday Night Live,’ ‘If it’s not one thing, it’s another,’ ” Kleinhenz said. “This is... Read More
NRF: Halloween spending to reach record $12.2 billion Market research 

NRF: Halloween spending to reach record $12.2 billion

GaryPageau ,
Total Halloween spending is expected to reach a record $12.2 billion, exceeding last year’s record of $10.6 billion, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics. A record number of people (73%) will participate in Halloween-related activities this year, up from 69% in 2022. “More Americans than ever will be reaching into their wallets... Read More
NRF: Retail sales grew again in August despite slowing economy Market research 

NRF: Retail sales grew again in August despite slowing economy

GaryPageau
Retail sales rose in August as parents shopped for school supplies and other goods even as inflation continued and interest rates remained high, reported the National Retail Federation (NRF). “August retail sales show that consumers remain steadfast in the face of continued inflation and higher interest rates,” said Matthew Shay, NRF President and CEO. “Consumers are focused on household priorities,... Read More
NRF: Economy is expanding but momentum is slowing Market research 

NRF: Economy is expanding but momentum is slowing

GaryPageau
The economy is still growing, but not as fast as it was earlier this year, said National Retail Federation Chief Economist Jack Kleinhenz. “The U.S. economy continues to expand but recent data is signaling a slowdown in its momentum,” Kleinhenz said. “The economy is slowing but not halting.” “Progress has been made on combating inflation, but higher prices remain,” Kleinhenz... Read More