Despite falling consumer confidence numbers amid the recent rise in COVID-19 infections, shoppers are continuing to spend said National Retail Federation Chief Economist Jack Kleinhenze. Kleinhenz’s remarks came in the October issue of NRF’s Monthly Economic Review, which noted that consumers’ mid-summer savings rate of 9.6 percent rate was noticeably above pre-pandemic levels and that income growth going forward should benefit from expected strong employment gains and higher wages while Child Tax Credit checks being issued through December will also provide a bump. | More Information
In keeping with New York City’s indoor activity guidelines and the Javits Center’s own policy requiring proof of vaccination for admission to events, Toy Fair New York ’22 will require all attendees to provide proof of COVID-19 vaccination upon entry to the show, taking place February 19 to 22, 2022. In its adherence to all state and local guidelines and CDC recommendations for masking and other safety protocols, Toy Fair New York ’22 will require face coverings to be worn to enter the Javits Center, in all public areas, and on the Toy Fair New York exhibit floor. All health and safety requirements for Toy Fair New York are subject to change based on the most current health and safety requirements from New York authorities and the Javits Center. The Toy Association will continue to update policies and procedures and will alert all registered exhibitors and attendees of on-site requirements prior to the show. | More Information
Retail sales increased during August as consumer demand outweighed the pandemic, supply chain disruptions and other factors affecting spending, said the National Retail Federation. Overall retail sales in August were up 0.7 percent seasonally adjusted from July and up 15.1 percent year-over-year. That compares with a decline of 1.8 percent month-over-month and an increase of 15.1 percent year-over-year in July. | More Information
Please join us in welcoming Ryan Van Vleck to the Worldwide Team. Ryan will be our new Information Technology Manager. Ryan has a wealth of experience in systems administration and management, network/ cyber security, ERP system management, and web development. He previously earned his bachelor’s degree from Washington State University and has a masters from Pacific Lutheran University. Upon joining our team, Ryan will be leading, supporting and overseeing all aspects of IT. He and his family are native to Washington State and when outdoors he prefers camping, sailing (including sailboat racing), and shooting sports.
Labor Market Will Play Increasing Role in Economic Outlook but Rising Wages Could Lead to More Inflation
Strong consumer spending over the past year has been boosted by government stimulus programs but will rely more on the labor market and job creation as the benefits of those efforts subside, National Retail Federation Chief Economist Jack Kleinhenz said. Meanwhile, higher wages that employers have had to pay as they struggle to fill job openings could lead to more inflation in coming months. | More Information