Retailers seeking to avoid possible tariff hikes and port strike.
But while total number of shoppers dropped, in-store visits grew, NRF finds.
“Retailers need to pay close attention to developments with open banking and the potential it offers as an alternative to the costly way payments are currently...
“The winter holidays are a treasured time for Americans, and they are prioritizing spending on family this holiday season.”
Shorter selling season due to late Thanksgiving to have impact, NRF predicts.
NRF survey shows slight drop-off in money to be expended.
Jewelry is expected to be the top spending category, followed by special outings and electronics.
“Consumer spending was remarkably resilient throughout 2023 and finished the year with a solid pace for the holiday season.”
NRF VP of Asset Protection and Retail Operations David Johnston testified on behalf of the retail industry.
“The 2024 honorees showcase the depth, diversity and ingenuity found throughout the retail industry.”
Agreement “provides stability to the supply chain and assurance” to retailers and other businesses, CEO says.
The forecast is above the pre-pandemic, average annual growth rate of 3.6%.
"The underlying fundamentals in the consumer economy remain on solid footing," says NRF President and CEO Matthew Shay.
The group is forecasting a 6% to 8% sales increase over 2021.
Figures easily beat the NRF’s forecast.
Sales up 16.3 percent year over year.
Joint letter from retail groups also raised a list of questions.
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