Retail group pulls back on claim organized retail crime accounts for nearly half of inventory loss
The National Retail Federation has revised a report released in April that pulls back the claim that organized retail crime accounts for nearly half of overall industry shrink, which measures overall loss in inventory, including theft.
Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year ago
The National Retail Federation, the nationโs largest retail trade group, expects shoppers will spend more this year than last year, but their spending pace will slow given all the economic uncertainty.
All-time high of more than $10 billion is expected to be spent on Halloween 2021, according to this group
Whether itโs shortages that are driving up prices of certain items or enthusiasm for the day in general, one thing is clear: It looks like there will be a lot of money spent on Halloween this year.
US consumers rebound to boost spending 2.4% as income jumps
The January spending increase followed two straight monthly spending drops that had raised concerns that consumers, who power most of the economy, were hunkered down, too anxious to travel, shop and spend. Consumers saved a significant chunk of their income last month: The personal savings rate jumped to 20.5% from 13.4% in December. It was the highest savings rate since May of last year in the aftermath of pandemic's eruption. AdGregory Daco, chief economist at Oxford Economics, said he thinks the high savings rate, combined with pent-up consumer demand and further federal aid, will lift economic growth this year to 7%. โThe combination of a healthier economy and more government stimulus should generate a strong rebound by the middle of the year.โ
U.S. retail sales fell in December for 3rd straight month
(AP Photo/John Raoux)NEW YORK โ Retail sales fell for a third straight month as a surge in virus cases kept people away from stores during the critical holiday shopping season. The U.S. Commerce Department said retail sales fell a seasonally adjusted 0.7% in December from the month before. Department store chain Nordstrom, lingerie seller Victoriaโs Secret and clothing retailer Urban Outfitters all said sales fell during the holidays. The Commerce Department said shoppers cut back on spending at electronic and department stores. At clothing stores, sales rose 2.4% after dropping 16% for the year.
Retail trade group sees solid holiday sales despite pandemic
NEW YORK โ The National Retail Federation, the nation's largest retail trade group, expects that holiday sales could actually exceed growth seen in prior seasons, despite all the uncertainty surrounding the pandemic. Holiday sales have averaged gains of 3.5% over the past five years. Not included in total sales figure are sales from restaurants, gas stations and auto dealers. Still, the NRF cited that the aggregate retail sales have seen a V-shaped recovery, growing both month-over-month and year-over-year each month since June. For the first ten months of this year, retail sales rose 6.4% compared with the first 10 months of 2019.