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Industry Updates
2024 Easter Spending Expected to Top $22 Billion
Consumer spending is expected to reach a total of $22.4 billion this Easter, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. The total figure is the second highest in the survey’s history, after last year’s record-setting $24 billion when the holiday fell nine days later in the year. | More Information
Census Data Shows Retail Sales Bounced Back in February
Data released by the U.S. Census Bureau today shows retail sales expanded in February after a strong but flat January, National Retail Federation Chief Economist Jack Kleinhenz said. The Census Bureau said overall retail sales in February were up 0.6% seasonally adjusted from January and up 1.5% unadjusted year over year. That compared with a 1.1% month-over-month decrease and no year-over-year change in January. | More Information
February CNBC/NRF Retail Monitor Numbers Show Consumers Continued Spending in February
Retail sales continued to grow in February, building off solid gains from January, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released by the National Retail Federation. Total retail sales, excluding automobiles and gasoline, were up 1.06% seasonally adjusted month over month and up 6.3% unadjusted year over year in February, according to the Retail Monitor. That compared with a decrease of 0.16% month over month and an increase of 2.34% year over year in January. | More Information
Import Cargo Returning to Normal After Red Sea Disruptions
With the supply chain adjusting to ongoing Houthi rebel attacks on commercial vessels in the Red Sea, inbound cargo volume at the nation’s major container ports remains on track to show year-over-year increases through the first half of 2024, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates. | More Information
Industry Updates
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Industry Updates
NRF Says Census Data Shows 2023 Holiday Sales Grew 3.8% to Record $964.4 Billion
U.S. Census Bureau data shows that core retail sales during the 2023 holiday season grew 3.8% over 2022 to a record $964.4 billion, easily meeting the National Retail Federation’s forecast despite continued inflation and high interest rates, NRF said. Sales for the full year grew 3.6% over 2022 to a record $5.13 trillion. | More Information
Wiley X Announces a Brand Refresh and New Products for 2024
Wiley X, a global leader and pioneer in premium protective eyewear, is excited to announce it will undergo a brand refresh in 2024 that will enhance the company’s dedication to protection, performance and style. As part of this initiative, the brand has refined its values, announced new products, and introduced an updated logo coupled with the new tagline, Protection for Life. “Our mission from day one was to build the world’s best protective eyewear,” said Dan Freeman, CEO and Co-Owner of Wiley X. “Part of that mission is the tireless pursuit of ways to improve our product and our company. That has led us to update our brand by introducing a new logo, refreshed values and all-new innovations in our eyewear.” | More Information
Steve Hornady is Honored NSSF Ken Sedlecky Lifetime Achievement Award
NSSF®, The Firearm Industry Trade Association, today presented its highest honor—the Ken Sedlecky Lifetime Achievement Award—to Steve Hornady, President of Hornady Manufacturing Company, a company known worldwide for its innovative, quality ammunition products.The award was presented at NSSF’s Members Meeting during the industry’s annual trade show, the SHOT Show®. “Steve’s dedication to our industry and to the shooting sports, as well as his generosity of time and support toward organizations working to protect our traditions, are known far and wide,” said Joe Bartozzi, NSSF President and CEO. “I can think of no more worthy recipient of the NSSF Ken Sedlecky Lifetime Achievement Award than Steve. It’s an honor to present this award to him.” The NSSF Ken Sedlecky Lifetime Achievement Award recognizes individuals who have distinguished themselves by their longterm commitment to the success of the industry and by their support of NSSF’s mission to promote, protect and preserve hunting and the shooting sports. | More Information
Valentine’s Day Spending on Significant Others to Reach New Record, NRF Survey Shows
Valentine’s Day is returning to its romantic traditions, with total spending on significant others for the holiday expected to reach a record $14.2 billion, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. “Retailers are ready to help customers this Valentine’s Day with meaningful and memorable gifts,” NRF President and CEO Matthew Shay said. “With consumers prioritizing their spouse or significant other this year, retailers expect to see a shift in spending for certain gifting categories.” | More Information
Industry Updates
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Industry Updates
2023 Holiday to Reach Record Spending Levels
The National Retail Federation today forecast that holiday spending is expected to reach record levels during November and December and will grow between 3% and 4% over 2022 to between $957.3 billion and $966.6 billion. Despite a slower growth rate compared with the past three years, when trillions of dollars of stimulus led to unprecedented rates of retail spending during the pandemic, this year’s holiday spending is consistent with the average annual holiday increase of 3.6% from 2010 to 2019. | More Information
NRF Economist Says 2023 Holiday Sales Will Have a ‘Whole New Set of Dynamics’
Every retail holiday season since the pandemic has been unique, and that will be the case again this year, National Retail Federation Chief Economist Jack Kleinhenz said. “This year, a whole new set of dynamics is in place,” Kleinhenz said. “The average household remains on relatively solid financial footing despite pressures from still-high inflation, stringent credit conditions and elevated interest rates. Recent revisions to government data indicate that consumers haven’t drawn down as much of their pandemic savings as believed earlier, and savings are still providing a buffer to support spending. The overall story for this holiday season is that it looks very good.” | More Information