Tag: NRF – Page 5 – The Dead Pixels Society

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

March 29, 2023March 30, 2023 GaryPageau NRF

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

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NRF: Easter spending expected to reach record $24 billion

March 20, 2023March 20, 2023 GaryPageau Easter, holiday spending, NRF

Consumers plan to spend a collective $24 billion on Easter this year, up from $20.8 billion in 2022 and the previous record high of $21.7 billion in 2020, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. Eighty-one percent of Americans will celebrate the holiday and spend an average of $192.01, the... Read More

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NRF: Core retail sales grew in February amid strong labor market

March 15, 2023March 15, 2023 GaryPageau NRF

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

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NRF economist says U.S. recession unlikely

February 2, 2023February 2, 2023 GaryPageau NRF

A recession is unlikely and the economy is expected to see slight growth in 2023 as consumers continue to cope with inflation and high interest rates, said Jack Kleinhenz, National Retail Federation (NRF) chief economist. “A month into 2023, the economy is facing stiff headwinds and – with the exception of easing inflation – will likely face more challenges before... Read More

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NRF: 2022 holiday sales grew 5.3% to $936.3 billion

January 18, 2023January 19, 2023 GaryPageau NRF

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

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NRF: First half of holiday season shows strong year-over-year results

December 15, 2022December 17, 2022 GaryPageau NRF

November retail sales dipped from a surge of early holiday shopping the month before but still saw solid year-over-year growth that marked a strong start to the holiday season, said the National Retail Federation (NRF). “Consumers continued to spend on household priorities and holiday gifts for loved ones this November despite continued inflation and rising interest rates,” said Matthew Shay,... Read More

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

December 14, 2022December 14, 2022 GaryPageau Holiday sales, NRF

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

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NRF: Record 158 million shoppers expected during Super Saturday

December 13, 2022December 14, 2022 GaryPageau NRF, Super Saturday

More than 158 million consumers are expected to shop on the last Saturday before Christmas this year, according to the annual consumer survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics. This figure is approximately 10 million more than last year’s expected number of Super Saturday shoppers and the highest number since NRF first started... Read More

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NRF: Record 196.7 million consumers shop over Thanksgiving holiday weekend

November 29, 2022November 30, 2022 GaryPageau Black Friday, NRF

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

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NRF: Retail sales growing as holiday season begins

November 21, 2022November 21, 2022 GaryPageau NRF

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

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

November 4, 2022November 6, 2022 GaryPageau NRF

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

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NRF: Year-over-year retail sales growth continues

October 14, 2022October 19, 2022 GaryPageau NRF

Retail sales remained strong on a monthly basis and saw another year-over-year gain in September despite an interest rate hike from the Federal Reserve and continuing inflation, the National Retail Federation (NRF) said. “September retail sales confirm that even with rising interest rates, persistent inflation, political uncertainty and volatile global markets, consumers are spending for household priorities,” said Matthew Shay,... Read More

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NRF: Retailers are well stocked for holidays despite low import volume

October 7, 2022October 11, 2022 GaryPageau Holiday sales, NRF

Imports at the nation’s major container ports are expected to fall to their lowest level in nearly two years by the end of 2022 even though retail sales continue to grow, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. “The holiday season has already started for some shoppers and, thanks to... Read More

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NRF: Consumers still spending despite worries over inflation and interest rates

October 3, 2022October 7, 2022 GaryPageau NRF

Consumers remain worried about high inflation and Federal Reserve interest rate hikes intended to bring inflation under control, but neither has stopped them from spending, National Retail Federation (NRF) Chief Economist Jack Kleinhenz said today. “The economic situation in the United States is unsettling,” Kleinhenz said. “Consumer confidence is down, consumer spending’s rate of growth has slowed, and economists and consumers... Read More

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NRF: July retail sales show consumers still shopping despite inflation

August 17, 2022August 18, 2022 GaryPageau NRF

Core retail sales as calculated by the National Retail Federation rose in July even as overall sales reported by the Census Bureau remained flat on a monthly basis, and both calculations showed strong year-over-year gains as consumers kept shopping despite high inflation, NRF said today. “Retail sales grew in July, supported by declines in prices at the gas pump and... Read More