U.S. retailers announced twice as many store openings as closings in 2021
Major US-headquartered retailers announced more than 8,100 new store openings, even as the pandemic continued to broadly upend the industry and the global supply chain. The openings are more than double the number of closing announcements and a stimulus-driven rebound in consumer spending, pandemic-related lease renegotiations and balance sheet...
Retail predictions for 2022
While the challenges of supply chain disruptions, labor shortages and inflation concerns remain, NRF Vice President of Education Strategy Susan Reda says 2022 is poised to be a great year for retail. Customers are excited to return to stores, and retailers are focused on new ways to make the...
Retailers, Prepare for 2D Barcodes
The end of the Universal Product Code (UPC) is fast approaching, and both retailers and food and beverage manufacturers need to start planning for the future, according to GS1 US, the standards body that is preparing the retail industry to transition from linear barcodes to the data-rich 2D codes...
Holiday sales growth topped forecast
US retail sales at stores and online surged to $886.7 billion in November and December, a 14.1% jump from the same period in 2020, according to a report from NRF, which had forecast growth of as much as 11.5% for holiday retail sales. “Despite supply chain problems, rising inflation,...
Q4 retail sales closed strong despite December decline
US retail sales fell 1.9% in December from the previous month, according to the Commerce Department, reflecting a combination of inflation and supply chain glitches that spurred consumers to do more of their holiday shopping earlier than usual. Total sales for the last three months of 2021 were up...
How big is the problem of organized retail theft?
Organized retail crime is a serious problem for US retailers who lose about 0.07% of total sales to ORC, according to NRF data, but some other industry estimates appear to have overestimated the damage. Read more …
November Retail Sales Put Holiday Season on Track to Set New Records
Retail sales continued to grow in November, putting the 2021 holiday season on the home stretch for record spending despite inflation, supply chain disruptions and COVID-19. Grocery and beverage store sales were up 1.3% month over month seasonally adjusted and up 8.8% unadjusted year over year. Read more …
Organized retail crime remains a growing threat
Organized retail crime now costs retailers an average of $700,000 per $1 billion in sales and three-fourths of retailers saw an increase in ORC in 2020, according to NRF’s 2020 Organized Retail Crime Survey. More than two-thirds of retailers said the pandemic increased the overall risk for their organization...
Consumer spending was up 14.5% year over year for the first nine months of the year
Consumer spending was up 14.5% year over year for the first nine months of the year — and has returned to pre-pandemic levels for many retail categories. Read more …