News

Industry Updates

May 5, 2023
Ignik Grows Product Line, Launches Tank Accessories
Ignik, a Bainbridge Island-based brand, expanded its product line with new offerings in propane tank accessories. The 20LB Tank Case/Seat and 20LB Tank Tote make transporting and hauling large-scale propane tanks “seamless.” Both tanks are made with 900 denier polyester fabric, rigid corrugated plastic, foam-reinforced base, and Molle webbing, which allows for attachment of other gear, accessories and secure transport. The 20LB Tank Tote is constructed with wrapped webbing handles on each side. Its Case/Seat offers a reinforced lid that doubles as a seat when shut and a removable padded shoulder strap for carry. Both the Tank Tote and Case/Seat propane carrying cases “cradle and protect the tank from impact.” When not used to transport propane, both store extra gear and beverages and could double as a camp trash can. | More Information 

U.S. Consumer Confidence Dips to Lowest Level Since July 
According to the Conference Board, U.S. consumer confidence dropped in April to the lowest since July on more pessimistic views about the economic outlook, even as current conditions improved. The Conference Board’s Consumer Confidence Index, which measures attitudes toward the economy and the job market, fell to 101.3 in April, down from 104 in March, marking the lowest level since July 2022. The Conference Board’s Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased to 151.1 (1985=100) from 148.9 last month. | More Information 


ICAST Brings Global Recreational Fishing Trade to Orlando in July 
Celebrating its 66th year, the International Convention of Allied Sportfishing Trades—better known as ICAST—returns to Orlando, Fla. and the Orange County Convention Center (OCCC) from July 11-14, for the planet’s largest sportfishing trade show. Produced annually by the American Sportfishing Association (ASA), the show is the largest, single event for the recreational fishing trade. “ICAST is the cornerstone of the global sportfishing industry,” said ASA President Glenn Hughes. “ICAST is where connections are made that create business opportunities for our industry. It’s also where most new products make their debut into the fishing marketplace.” ICAST offers more than 12,000 attendees representing dozens of countries the opportunity to see and interact with thousands of products from hundreds of manufacturers displaying colorful lures, clothing and watercraft, glowing marine electronics and multi-hued rods and reels. Tackle manufacturers, retailers, distributors and a host of global media all mingle at this once-a-year event. | More Information 


Industry Updates

April 25, 2023
Less Common Firearm Sales: Do You Know these FFL Compliance Rules
There are multiple situations of uncommon sales that gun retailers may find themselves facing.  Some may include online sales, sales to customers with dual residency, and the effect a customer's CCW has or does not have on background checks and waiting period requirements. This article highlights some of the more uncommon types of gun sales that may occur in retail and how merchants should handle these situations and following the proper and legal procedures that are required. For more information go to NSSF.org or click the link | More Information 


Report: Year-Over-Year Online Prices Fell Again in March but Apparel  Shows Increases
Adobe reported that online prices in March 2023, as tracked via the Adobe Digital Price Index (DPI)*, powered by Adobe Analytics, fell 1.7 percent year-over-year (YoY), marking the seventh consecutive month of YoY price decreases with over half of the categories (10 of 18) tracked by Adobe seeing falling prices on an annual basis. On a monthly basis, online prices in March remained flat (up 0.03 percent) versus February. Eight categories experienced YoY price increases, including personal care, office supplies, pet products, groceries, non-prescription drugs, tools/home improvement, medical equipment/supplies and apparel. | More Information 


NRF Says Retail Sales ‘Moderated’ in March but Still Sees ‘Positive Growth’ for 2023
Retail sales slowed in March, but spending was still higher than the same time last year, the National Retail Federation said. “Retail sales moderated in March after posting strong gains in the first two months of the year,” NRF President and CEO Matthew Shay said. “Continued easing of inflation and the overall strength of the job market and wages are keeping the fundamentals of the consumer economy strong and should support their ability to spend on household priorities through 2023. Retailers recognize the pressure on consumers from increased prices in services and experiences, and the impact of higher interest rates, and are prioritizing product mix, competitive pricing and convenience to help consumers stretch their budgets.” | More Information 


Study: Global Supply Chain Volatility Falls To Lowest Level Since July 2020 
The GEP Global Supply Chain Volatility Index* concluded that global supply chains operate more efficiently today, signaling the lowest stress level since July 2020. GEP’s Global Supply Chain Volatility Index, produced by S&P Global and GEP, fell to 0.32 in March from 0.48 in February. GEP found that although global demand for raw materials and components remained subdued, the trend has improved since hitting its trough in December 2022. Asian purchasing managers increased their component orders again in March, with manufacturers in China and India driving the gains. In Europe and the U.S., demand for raw materials and components is no longer falling as rapidly as companies continue to draw down excess warehouse inventories. | More Information 
 


Industry Updates

April 7, 2023
NRF Forecasts 2023 Retail Sales to Grow Between 4% and 6%
The National Retail Federation issued its annual forecast, anticipating that retail sales will grow between 4% and 6% in 2023. In total, NRF projects that retail sales will reach between $5.13 trillion and $5.23 trillion this year. | More Information 


Toy Association & Clamour to Reveal Best Spring & Summer Toys  of 2023 as Chosen by Influencers 
Toy and game companies are invited to submit their most creative and innovative products to be voted on by leading influencers with millions of social media followers and monthly views. Chosen products will be named to the official “Best of Spring & Summer 2023 Influencer Choice List,” presented by The Toy Association and powered by Clamour, producers of the largest industry summit from professional online video influencers. The influencers from the Clamour network who will be casting their votes are required to have a minimum monthly following of at least one million views on their main platform and a social reach of more than half a million followers. Influencers will review each submitted product’s details (including photos and physical product, if available), before voting for their favorites. Voting will take place online from April 26 to May 5. No employees or representatives of Clamour or The Toy Association will have any role in determining the selected products. | More Information 


Industry Updates

March 23, 2023
Yeti Recalls 1.9 Million Coolers and Cases for Magnet Hazard
Yeti has recalled 1.9 million soft coolers and gear cases because of magnets that could detach and be ingested. The magnet-lined closures on Yeti’s Hopper M20, Hopper M30 1.0 and 2.0, and SideKick Dry products could fail and the magnets could dislodge, according to the U.S. Consumer Product Safety Commission (CPSC). Yeti issued a Stop Sale notice on these items in early February. See SGB Executive coverage on the recall HERE and the resulting economic impact of the massive recall HERE. | More Information 


Report: U.S. Retail Sales Climb 6.9 Percent in February
According to Mastercard SpendingPulse*, U.S. retail sales excluding automotive were up 6.9 percent year-over-year (YOY) in February. “Following a dynamic holiday season, consumer spending returned to a familiar and healthy balance in February,” said Steve Sadove, Mastercard senior advisor and former CEO of Saks, Inc. “Consumers have remained resilient, prioritizing discounts where possible to counteract inflationary pressures.” | More Information

 

ASA Report: Economic Contributions of Recreational Fishing
The American Sportfishing Association (ASA) released its 2023 Economic Contributions of Recreational Fishing: U.S. Congressional Districts Report, an update to the data collected by the ASA in partnership with Southwick Associates, which noted angler participation and the economic impacts across all 50 states and the country’s 435 congressional districts. America’s 52.4 million anglers contribute $148 billion to the economy and support 945,500 jobs in the U.S. while contributing $1.8 billion towards conservation. While jobs supported include the manufacturing and selling of fishing equipment and gear, recreational fishing also supports jobs in other industries, including hotel lodging, restaurants, charter boat trips, and more. | More Information 


'Pause' on Credit Card Tracking Code Welcomed but Firearm Industry Keeping Watchful Eye
VISA, Mastercard and Discover – all announced they were “pausing” efforts to implement a newly-created Merchant Category Code (MCC) to track gun store purchases. NSSF worked diligently with lawmakers in several states and the federal government last year when the International Organization for Standardization (ISO) adopted a credit card tracking scheme proposed by antigun activists at Amalgamated Bank and The New York Times. The result is several states are on the verge of passing legislation that would block the use of firearm retailer-specific code and protect the privacy of customers of firearm retailers, including West Virginia, Florida and Mississippi. Congress is also looking at the issue. | More Information 


Easter Spending Expected to Reach Record $24 Billion
Consumers plan to spend a collective $24 billion on Easter this year, up from $20.8 billion in 2022 and the previous record high of $21.7 billion in 2020, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. Eighty-one percent of Americans will celebrate the holiday and spend an average of $192.01, the highest figure on record. | More Information


Industry Updates

March 10, 2023
SGB Question: Is the Supply Chain Crisis Over? 
SGB Executive reached out to industry executives to get their perspectives on the supply chain’s ongoing recovery efforts. Responses surveyed from Case And Zippo, Cascade Designs, Hot Chillys, Land Energy, Lowa, NetVirta, Reima, The Woolmark Company, Tread Labs, TRE US, and Vibram are outlined. | More Information 


Helly Hansen Recalls Workwear for Failing to Meet Flammability Standards
Helly Hansen, in compliance with the U.S. Consumer Product Safety Commission and Health Canada, recalled 12 adult workwear sweatshirts and hoodies for failing to meet flammability standards. The garments are 100 percent cotton or 95 percent cotton/5 percent elastane and sold in gray, navy and black. The HH Workwear label appears in the neck seam, and the Helly Hansen label is sewn into the inside bottom right front. The inside seam label includes the size, fiber content and washing instructions. The garment style number appears on a tag affixed under the inside seam label. Approximately 13,900 skus were sold in the U.S. and another 128,680 were sold in Canada. Consumers should stop wearing the recalled garments and contact Helly Hansen for a full refund or replacement or receive a credit toward the purchase of a  replacement upon submitting a photograph of the garment cut in half by emailing highpri.support.na@hellyhansen.com. | More Information 


NICS Checks Dip in February
The February 2023 NSSF-adjusted National Instant Criminal Background Check System (NICS) figure of 1.34 million represented a decline of 0.6 percent compared to the February 2022 NSSF-adjusted NICS figure of 1.35 million. For comparison, the unadjusted February 2023 FBI NICS figure of 2,502,385 reflected a 0.5 percent decrease from the unadjusted FBI NICS figure of 2,514,818 in February 2022. | More Information


Imports Expected to Slowly Climb, But Should Remain Below 2022 Levels Through Mid-Summer
 Import cargo volume at the nation’s major container ports is expected to begin slowly climbing again this month after February saw one of the lowest levels since the beginning of the pandemic, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates. “There are many uncertainties about the economy, but we expect imports to show modest gains over the next several months,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Growth is a positive sign, but levels are still far below normal and retailers will remain cautious as they work to keep inventories in line with consumer demand.” | More Information 


NSSF: Firearm and Ammo Vendors Have Contributed Over $25 Billion to Conservation Fund
NSSF, The Firearm Industry Trade Association, is celebrating the U.S. Fish and Wildlife Service’s recent announcement that $1.6 billion will be apportioned to state conservation and wildlife access programs, driven mostly by firearm and ammunition manufacturers. The record-setting distribution of funds comes from the Pittman-Robertson and Dingell-Johnson excise taxes paid by the firearm, ammunition and angling industries. | More Information 



Toy Association Unveils Top Toy Trends of 2023
This year’s biggest trends in toys, play, and kids’ entertainment strike a balance between turning back to classic play and leaning into new platforms, technologies, and consumer spending habits to drive innovation across the toy space. New data1 to support the “kidult” trend has also proven that play isn’t just for kids, and this year, there are new demographics of consumers that toymakers will focus on for growth opportunities. These and other top 2023 toy trends were announced today by The Toy Association during The Play Date, its exclusive Q1 media event held in partnership with Adventure Media & Events in New York City. An in-depth version of the briefing, featuring more product examples and insights, is now available online. | More Information 


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