News

NRF Says Consumers Still Spending Despite Worries Over Inflation and Interest Rates
Consumers remain worried about high inflation and Federal Reserve interest rate hikes intended to bring inflation under control, but neither has stopped them from spending, National Retail Federation Chief Economist Jack Kleinhenz said. “The economic situation in the United States is unsettling,” Kleinhenz said. “Consumer confidence is down, consumer spending’s rate of growth has slowed, and economists and consumers alike are worried about the possibility of a recession, all reflecting persistently high inflation and rising interest rates. Nonetheless, spending continues to grow, and many economists say a recession – if there is one – will likely be mild.” | More Information 



Imports Headed to Lowest Level Since Early 2021 But Retailers Are Well Stocked for   Holidays
Imports at the nation’s major container ports are expected to fall to their lowest level in nearly two years by the end of 2022 even though retail sales continue to grow, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. “The growth in U.S. import volume has run out of steam, especially for cargo from Asia,” Hackett Associates Founder Ben Hackett said. “Recent cuts in carriers’ shipping capacity reflect falling demand for merchandise from well-stocked retailers even as consumers continue to spend. Meanwhile, the closure of factories during China’s October Golden Week holiday along with the Chinese government’s continuing ‘Zero Covid’ policy have impacted production, reducing demand for shipping capacity from that side of the Pacific as well.” | More Information 

July Retail Sales Show Consumers Still Shopping Despite Inflation
Core retail sales as calculated by the National Retail Federation rose in July even as overall sales reported by the Census Bureau remained flat on a monthly basis, and both calculations showed strong year-over-year gains as consumers kept shopping despite high inflation, NRF said. “Retail sales grew in July, supported by declines in prices at the gas pump and moderately lower inflation,” NRF President and CEO Matthew Shay said. “Consumers are adapting to higher prices by prioritizing essentials like food and back-to-school items, and retailers are working hard to absorb the impact of higher costs and help customers stretch their hard-earned dollars." | More Information 


Imports Slowing in Second Half of the Year But 2022 Should See Gain Over 2021 
After a record-setting spring, imports at the nation’s major container ports are expected to slow significantly for the remainder of the year but 2022 should still see a net gain over 2021, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. | More Information 



Ignik Announces Partnership with Protect Our Winters
Ignik, a Bainbridge Island-based brand committed to creating more heat with less waste, is proud to announce its partnership with Protect Our Winters (POW), a nonprofit focused on protecting the places where we play from climate change by turning outdoor enthusiasts into climate advocates. Ignik, which was founded to address the impacts of climate change through smarter heating product design, joins dozens of leading outdoor industry brands that have pledged their support for the organization. | More Information 
 

June Retail Sales Increased Despite Rising Inflation 
Retail sales increased in June even as inflation climbed higher and drove up prices across the board, the National Retail Federation said today. “June retail sales data shows that consumers remain on solid footing despite rising prices and an active Fed raising interest rates to combat it,” NRF President and CEO Matthew Shay said. “Inflation has consumers modifying their spending behavior and prioritizing essentials like food, energy and back-to-school items. Unfortunately, modified consumer behavior won’t be sufficient to offset persistent price increases. Other policy measures like removing China tariffs, enacting smart immigration reforms and investing in supply chain resiliency are needed to lower costs for American families and put much-needed dollars back into their pockets.” NRF’s calculation of retail sales – which excludes automobile dealers, gasoline stations and restaurants to focus on core retail – showed June was up 0.6 percent from May and up 5.8 percent unadjusted year over year. In May, sales were down 0.3 percent month over month but up 6.3 percent year over year. | More Information



EXEC: Surveys Find Global Supply Chain Crisis Could Worsen
Despite signs of lessening port congestion in the U.S., several recent surveys conducted with supply chain professionals show that economic conditions, rising inflation and global tensions prevent a return to normal. A recent survey of supply chain executives conducted by Carl Marks Advisors in partnership with SupplyChainBrain found that more than half of the total respondents do not expect a return to a “normal” supply chain until the first half of 2024 or beyond, while 22 percent said that they expected disruptions to continue until the second half of 2023. Respondents also said they see threats clouding the landscape and complicating a return to a reliable supply chain, most notably the war in Ukraine, 30 percent and labor concerns, 24 percent. The survey, conducted from May 20 to June 10, included responses from 107 U.S. supply chain executives across various industries. | More Information

NRF Says Economy ‘Being Rebalanced’ but ‘Extreme Cooling Off’ Seems Unlikely 
The Federal Reserve faces “a tricky job” in addressing inflation but continuing growth in employment, wages and consumer spending make it unlikely the effort will backfire into a major setback for the economy, National Retail Federation Chief Economist Jack Kleinhenz. “Though many people fear an extreme cooling off of the economy, there is not an overwhelming amount of evidence to support such predictions,” Kleinhenz said. “In general, the data suggests that we remain in an ongoing expansion.”Kleinhenz’s remarks came in the June issue of NRF’s Monthly Economic Review, which noted that the latest Blue Chip Economic Indicators survey of economists projects that gross domestic product will climb 2.6 percent this year and another 2.1 percent in 2023. | More Information


U.S. Ports Remain at Near-Record Volume as Demand Continues and West Coast Contract Deadline Approaches
Imports at the nation’s major retail container ports should see near-record volume again this month as retailers work to meet still-strong consumer demand and also protect themselves against potential disruptions at West Coast ports, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. “We’re in for a busy summer at the ports,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Back-to-school supplies are already arriving, and holiday merchandise will be right behind them.” | More Information


May Retail Sales Slow Amid Ongoing Inflation
Retail sales slowed in May as consumers faced continuing inflation and higher prices for essentials like food and gasoline, the National Retail Federation said. “Retail sales are reflecting Americans’ growing concern about inflation and its impact on the cost of everything from groceries to gas,” NRF President and CEO Matthew Shay said. “Retailers are doing what they can to keep prices down, but we continue our call on the administration to repeal unnecessary and costly tariffs on goods from China to relieve pressure on American consumers and their family budgets.” | More Information

NRF Says Economy Should Continue ‘Bustling Forward’ Even as Fed Works to Bring Inflation under Control
The economy’s fast-paced growth could slow somewhat as the Federal Reserve tries to bring inflation under control in the next few months, but consumers are likely to keep on shopping as lower inflation eases uncertainty, National Retail Federation Chief Economist Jack Kleinhenz said. While the Fed’s actions could mean higher car and mortgage payments, Kleinhenz said household finances have remained strong despite consumers’ worries over inflation and the war in Ukraine. The 4 percent year-over-year increase in retail sales in March showed consumers have the willingness and ability to spend as a result of job growth, wage gains and wealth accumulated during the pandemic as well as low financial obligations relative to income. | More Information


Mother’s Day Spending to Reach Record High
Mother’s Day spending is expected to total $31.7 billion this year, up $3.6 billion from 2021’s record spending, according to the annual consumer survey* released by the National Retail Federation and Prosper Insights & Analytics. Approximately 84 percent of U.S. adults are expected to celebrate Mother’s Day. Consumers plan to spend $25 more this year on Mother’s Day purchases and are expected to spend a record average of $245.76. | More Information


Outdoor Retailer Releases Floor Plan, Exhibitor List for Summer Show
Details about the upcoming Outdoor Retailer (OR) show in Denver were published today, including the event’s exhibitor list, floor plan, and education and event lineup. Staging June 9-11 at the Colorado Convention Center, the show will be the last in Denver before the event decamps for Salt Lake City at the beginning of 2023. The exhibitor list includes nearly 500 brands, though some notable companies that have skipped the last couple of shows are also absent here, like Patagonia, The North Face, and Black Diamond. Some of the larger brands on the list include CamelBak, Dometic, Fjallraven, Helly Hansen, Hydro Flask, Mystery Ranch, Osprey, Sea to Summit, and YETI. | More Information


2022 Firearm Industry Compliance Education 
In 2022, NSSF®, the firearm industry trade association, will be providing industry businesses with FREE in-depth compliance online training and insights via the 2022 Firearm Industry Compliance Education Series — a monthly, live webinar series, with a focus on topics central to our industry including ATF inspection preparedness, Straw Purchase awareness, improving store security, OSHA lead & noise compliance and much more. NSSF is committed to helping your company improve operations, public safety and the overall health of the firearms industry. | More Information