October 12, 2023
Survey Finds 92 Percent of Consumers Cut Spending This Year; Apparel Tops Cuts
A recent CNBC-Morning Consult survey found that 92 percent of U.S. adults reduced their spending over the past six months, and the majority expect to remain frugal through the 2023 holiday shopping season. The CNBC survey of 4,403 U.S. adults fielded between Tuesday and Thursday of this week found the most common categories for spending reductions over the past six months were apparel (63 percent), restaurants and bars (62 percent) and entertainment outside the home (56 percent), a similar pattern CNBC saw in its June survey. The following most significant categories for cuts were groceries (54 percent), recreational travel and vacations (53 percent) and electronics (50 percent). | More Information
Retail Crime Accounted for Over $112 Billion in Industry Losses in 2022, According to NRF Report
As incidents of retail crime continue to escalate throughout the country, retailers have seen a dramatic jump in financial losses associated with theft. When taken as a percentage of total retail sales in 2022, shrink accounted for $112.1 billion in losses, up from $93.9 billion* in 2021, according to the 2023 National Retail Security Survey released by the National Retail Federation. | More Information
SHOT Show Climbs to No. 8 on List of Largest Trade Shows
NSSF’s SHOT Show® is now the eighth largest trade show in America, according to Trade Show Executive’s just-released Gold 100 rankings. The rankings were based on trade shows held throughout the United States in 2022 and measured by net square feet. Owned and operated by NSSF® — The Firearm Industry Trade Association — the SHOT Show is the annual trade show of the shooting, hunting, outdoor and law enforcement industries. After having to cancel its 2021 show due to the COVID-19 pandemic, the 2022 SHOT Show featured the event’s largest floorplan ever with 804,000 net square feet of exhibit space—up from 676,000 net square feet in 2020. | More Information