WASHINGTON – The retail industry continues to be a top employer, according to a new report released by the National Retail Federation on Monday, which found that retailers supported 55 million full-time and part-time jobs in 2022, accounting for 26% of total U.S. employment. “The retail industry continues to expand in every way possible, from
WASHINGTON – 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
WASHINGTON – The National Retail Federation announced it will introduce a new Consumer Product Showcase at NRF 2023: Retail’s Big Show. The program provides a forum for small businesses to feature their consumer-facing products for national merchandisers. The majority (84%) of products showcased will be from minority-owned, women-owned, veteran-owned, disability-owned or LGBTQ+-owned companies. “Retailers are continuously looking
WASHINGTON – It’s too soon to say whether the Federal Reserve’s efforts to reduce inflation will lead to a recession, but continuing interest rate hikes increase the chances, National Retail Federation Chief Economist Jack Kleinhenz said Tuesday. “This year starts with the possibility of easing inflation but also uncertainty,” Kleinhenz said, referring to the interest
WASHINGTON – The National Retail Federation today issued the following statement from senior vice president of Government Relations David French following the inclusion of the “Integrity, Notification, and Fairness in Online Retail Marketplaces (INFORM) for Consumers Act” in year-end congressional omnibus legislation. “On behalf of the retail industry, we are extremely pleased negotiators included the
WASHINGTON – November retail sales were down from October, when inflation worries prompted a surge of early holiday shopping. But retailers’ November sales still reflected solid year-over-year growth that marked a strong start to the holiday season, according to the National Retail Federation. “Consumers continued to spend on household priorities and holiday gifts for loved
WASHINGTON – 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
WASHINGTON – 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 this week by the National Retail Federation and Prosper Insights & Analytics. The total number of shoppers grew by nearly 17 million from 2021 and
WASHINGTON – An estimated 166.3 million people are planning to shop from Thanksgiving Day through Cyber Monday this year, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. This figure is almost 8 million more people than last year and is the highest estimate since NRF began
WASHINGTON – Holiday spending is expected to be healthy even with recent inflationary challenges, as the National Retail Federation today forecast that holiday retail sales during November and December will grow between 6% and 8% over 2021 to between $942.6 billion and $960.4 billion. Last year’s holiday sales grew 13.5% over 2020 and totaled $889.3
WASHINGTON — As high rates of inflation persist, consumers across income levels are feeling the pain of higher prices on everything from household essentials to services like travel and dining out. Despite challenges, consumers are still prioritizing holiday spending. An NRF September 2022 consumer survey found that: Households earning over $75,000 a year are twice as likely
WASHINGTON – 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 Chief Economist Jack Kleinhenz said Monday. “The economic situation in the United States is unsettling,” Kleinhenz said. “Consumer confidence is down, consumer spending’s rate of
WASHINGTON – More Americans plan to celebrate Halloween this year, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics, which found that holiday-related activity will return to pre-pandemic levels. The survey found that 69% of consumers planning to celebrate the holiday this year, up from 65% in 2021 and comparable
WASHINGTON – Consumers’ willingness to spend overcame inflation again in August as more jobs and higher wages helped ease some of the pressure of continuing high prices, the National Retail Federation said on Thursday. “August retail sales show consumers’ resiliency to spend on household priorities despite persistent inflation and rising interest rates,” NRF President and
