Industry Updates

April 18, 2024
NRF Appears to Promote Two Monthly Sales Trend Reports with Differing Data
“March’s Census Bureau numbers confirm that consumer spending remains steady, underscoring a resilient consumer despite inflationary pressure,” Kleinhenz said. “While sales were mixed, several factors supported retail sales, including an early Easter holiday, slightly larger 2023 tax refunds and stronger payroll growth over the last three months. Nonetheless, the increasing share of consumer spending going to services as prices for services rise remains a stubborn problem because it leaves less household income available to spend on retail goods.” | More Information 

New Courses Announced for the 2024 Range-Retailer Business Expo  
Quality education that will give you actionable insights is at the heart of the NSSF Range-Retailer Business ExpoTM. This mid-year industry event is where firearm retailers and range operators learn specific tactics and strategies to stay on top throughout the year. Ten courses have been added to this year’s schedule FREE to all non-exhibiting RRBE attendees. Whether you’re a startup or have been in business awhile, this knowledge-sharing event is where you will find industry-specific solutions to improve your bottom line. Register now and finish the second half of 2024 strong. | More Information 

Import Cargo to Hit 2 Million Containers for First Time Since Last Fall 
Next month’s inbound cargo volume at the nation’s major container ports is expected to top 2 million units for the first time since last fall as imports grow despite new supply chain challenges, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates. “U.S. imports are continuing to increase despite another disruption impacting U.S. ports,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “As retailers have adjusted to limits on the use of the Panama Canal and the Red Sea, we now face the shutdown of the Port of Baltimore to vessel traffic. While it is not expected to have a national impact, the tragic collapse of the Francis Scott Key Bridge shows the ongoing need for flexibility and resiliency in every company’s supply chain. We are monitoring the situation closely as retailers who are affected adjust their shipping plans to ensure cargo is getting to where it needs to be.” | More Information 

Industry Updates

April 8, 2024

Nite Ize Celebrates 35 Years of Inventing Solutions to Lifes Daily Challenges 
Nite Ize®, a leading manufacturer of solution-based products, today marked its 35th anniversary, celebrating a journey of ingenuity, growth and commitment to ‘Inventing a Better Way’. Led by Founder and CEO Rick Case, Nite Ize has built a trusted reputation for inventing unique products solving life’s everyday problems, including the widely popular Gear Tie® Reusable Rubber Twist Tie™, S-Biner® Dual Carabiner and the Steelie® Magnetic Phone Mount. Innovation is the driving force behind Nite Ize, both in developing and protecting it. | More Information 

NSSF Lauches New Project Child Safe Website 
NSSF®, The Firearm Industry Trade Association, has re-launched, a newly redesigned website with comprehensive educational materials and practical resources for gun owners on how to securely store firearms when not in use to prevent firearm accidents, suicides and thefts. The site has a new, modern look and enhanced site navigation, and will continue to serve as a comprehensive online resource hub for a variety of audiences looking for firearm safety educational materials. | More Information 

IHA: New Format, New Products Fueled Strong Exhibitor, Retailer Participation at Inspired Home Show 2024
The International Housewares Association reported nearly 30,000 home and housewares professionals from more than 120 countries convened at The Inspired Home Show 2024, which concluded its new three-day, two-hall format on March 19 at Chicago’s McCormick Place. The Show featured 1,648 exhibitors from 38 countries, according to IHA. “The 2024 Show built on the success of last year’s Show with total square feet of exhibition space being slightly higher,” said Derek Miller, IHA president and CEO. “The change to the format was very positive, making the Show incredibly efficient — moving between the three primary Expos, now consolidated into two halls rather than three, was very well received by both exhibitors and buyers,” | More Information 

Industry Updates

March 26, 2024

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

March 8, 2024
With No Sign of Recession, NRF Economist Says Labor Market and Interest Rates Will Play Major Roles in 2024
After a better-than-expected performance in 2023, what happens with the economy in 2024 could depend largely on the labor market and what the Federal Reserve does with interest rates, National Retail Federation Chief Economist Jack Kleinhenz said. | More Information

NRF Economist Says Inflation and Interest Rates Remain Key to Economy
The Federal Reserve’s efforts to bring inflation under control will continue to play a major role in the economy this year, National Retail Federation Chief Economist Jack Kleinhenz said in the latest issue of the NRF Monthly Economic Review. “With the U.S. economy’s strength resting heavily on household spending, all eyes are on the consumer—and how consumers will respond the next few months to the Federal Reserve’s ongoing efforts to tame inflation,” Kleinhenz said. “While inflation is down from its peak, it has slowed less than expected and is still an important problem that remains to be solved.” | More Information

Import Cargo Continuing to Rise Despite Red Sea Disruptions 
Inbound cargo volume at the nation’s major container ports is expected to see year-over-year increases through the first half of the year despite attacks on ships in the Red Sea, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates. Hackett Associates Founder Ben Hackett said carriers are using a surplus of capacity built up during the pandemic to ease the impact as voyages are diverted around the Cape of Good Hope or to the U.S. West Coast, and that improvements are already being seen. | More Information 

January CNBC/NRF Retail Monitor Numbers Show ‘Great Start to the New Year’
Retail sales showed a strong beginning for the year in January, nearly matching December’s busy holiday spending and rising significantly year over year, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released by the National Retail Federation. | More Information 

Survey Reveals Strong Support from Non-Hunters for Firearm Industry Conservative Funding 
Hunters have prided themselves as being the “original conservationists.” They’re rightfully boastful of that moniker. After all, the hunting licenses, stamps and permit fees hunters pay go directly into wildlife conservation in their states and across the nation. It’s not just hunters paying into those conservation investments. Recreational target shooters and “regular” gun owners are an increasingly significant part of that equation. Every firearm and ammunition manufacturer pays an 11 percent tax on long guns and ammunition and a 10 percent tax on handguns that goes directly to the Federal Aid in Wildlife Restoration Trust Program. | More Information

NSSF: February Adjusted NICS Background Check Data Flat Year-Over-Year
The National Instant Criminal Background Check System (NICS) showed a decline in background checks in February, based on both the raw FBI-reported data and the numbers when adjusted by the National Shooting Sports Foundation (NSSF). | More Information 

Industry Updates

February 12, 2024

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 

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