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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
NRF: Retail sales rose sharply in July amid Prime Day, back-to-school sales, rising wages Market research 

NRF: Retail sales rose sharply in July amid Prime Day, back-to-school sales, rising wages

GaryPageau ,
Retail sales reversed their downward trend in July as Prime Day and major promotions by other brands prompted increased shopping while wage increases gave consumers more money to spend, according to the National Retail Federation. “July retail sales show consumers continue to drive the economy through this period of economic pressure with robust spending supported by steady job growth and... Read More
NRF: Retail sales grew again in June despite slower job gains Market research 

NRF: Retail sales grew again in June despite slower job gains

GaryPageau
Retail sales continued to rise in June even as employment grew more slowly, the National Retail Federation said. “June retail sales confirm that while the economy may be cooling, consumers remain on solid footing and are spending on household priorities,”  said Matthew Shay, president and CEO, NRF. “Back-to-class spending is one of the most important shopping occasions of the year,... Read More
NRF: Consumers to spend record amount for Father’s Day Market research News 

NRF: Consumers to spend record amount for Father’s Day

GaryPageau ,
Consumers will collectively spend a record-high $22.9 billion to celebrate Father’s Day this year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. Total expected spending for the holiday is up from last year’s $20 billion and exceeds the previous record of $20.1 billion in 2021. “Father’s Day remains a momentous occasion for... Read More
NRF: Retail sales rose in April as consumers “remained engaged” Market research News 

NRF: Retail sales rose in April as consumers “remained engaged”

GaryPageau
Retail sales bounced back in April, showing both month-over-month and year-over-year growth, said the National Retail Federation said. “Retail sales rebounded in April, reflecting consumer resilience in the face of elevated economic uncertainty,” said Matthew Shay, CEO and president, NRF. “Moderating price levels, continued labor market strength and wage gains have increased consumers’ ability to spend. However, they remain cautious... Read More
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
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: Full effect of Federal Reserve’s monetary tightening has not shown up News 

NRF: Full effect of Federal Reserve’s monetary tightening has not shown up

GaryPageau
National Retail Federation (NRF) Chief Economist Jack Kleinhenz said NRF’s 2023 retail sales forecast was one of the most difficult he has ever prepared. “The broad economic environment in the United States today is anything but normal,” Kleinhenz said, noting that unemployment is near historic lows and consumers have excess savings even though interest rates are increasing rapidly and both the... 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