By Gary Symons TLL Editor in Chief The National Retail Federation projects average consumer spending over the 2024 holidays will reach a record $902 per person. The NRF bases that number on the average expected spending for gifts, food, decorations, and other seasonal items, with figures coming from its annual consumer survey conducted by Prosper Insights & Analytics. … [Read more...] about NRF Predicts 2024 Holiday Spending to Reach New Record
National Retail Federation
NRF Predicts US Holiday Spending Close to $1 Trillion
By Gary Symons TLL Editor in Chief The National Retail Federation predicts holiday spending will grow by 2.5 to 3.5% in 2024, boosting U.S. spending to almost $1 trillion. The NRF says the increase will equate to spending of between $979.5 billion and $989 billion in total holiday spending in November and December, compared with $955.6 billion during the same time … [Read more...] about NRF Predicts US Holiday Spending Close to $1 Trillion
Economy: NRF Issues Warning of Potential Recession
By Gary Symons The National Retail Federation is warning anti-inflationary moves by the Federal Reserve could plunge the US into a recession. NRF Chief Economist Jack Kleinhenz said it's too soon to say whether the Fed’s efforts to reduce inflation will lead to a recession, but continuing interest rate hikes increase the chances. “This year starts with the possibility of … [Read more...] about Economy: NRF Issues Warning of Potential Recession
Halloween Sales Decline Due to Covid-19 Restrictions
Halloween is always a spooky time of year, but in 2020 it’s downright scary if you’re in retail or the licensing industry. A survey by the National Retail Federation found there will be a massive drop in participation in Halloween activities this year, due to the Covid-19 pandemic … but the NRF says it could have been worse. On the down side, more than three-quarters of … [Read more...] about Halloween Sales Decline Due to Covid-19 Restrictions