2024 Holiday Spending Expected to Reach New Record

Consumer spending on the winter holidays is expected to reach a record $902 per person on average across gifts, food, decorations and other seasonal items, according to the National Retail Federation’s latest consumer survey conducted by Prosper Insights & Analytics. The amount is about $25 per person more than last year’s figure and $16 higher than the previous record set in 2019.

“The winter holidays are a treasured time for Americans, and they are prioritizing spending on family this holiday season,” NRF Vice President of Industry and Consumer Insights Katherine...

NRF Calls on Administration to Use ‘Any and All Authority’ to End Port Strike

The National Retail Federation today released the following statement from NRF President and CEO Matthew Shay after a labor strike was initiated at all U.S. East and Gulf Coast container ports. The strike went into effect after the six-year master contract between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) expired on Sept. 30.

“NRF urges President Biden to use any and all available authority and tools — including use of the Taft-Hartley Act — to immediately restore operations at all...

September Import Cargo to Remain Elevated Ahead of Possible Port Strike

The nation’s major container ports are expected to see another busy month in September ahead of a potential labor strike at East Coast and Gulf Coast ports, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“This is a critical time as retailers prepare for the all-important holiday season, and we need every port in the country working at full capacity,” NRF Vice President for Supply Chain...

Economy Still Growing, But Could be Slowing Enough for Fed to Lower Interest Rates This Year

Key elements of the economy are still growing but appear to have slowed enough to be on track for the Federal Reserve to lower interest rates later this year, National Retail Federation Chief Economist Jack Kleinhenz said today.

“The consumer environment has kept the expansion on a positive path toward a ‘soft landing’ despite high interest rates,” Kleinhenz said. “Meanwhile, inflation has not yet been fully tamed, but we are seeing progress.”

Kleinhenz’s comments came in the August issue of NRF’s Monthly...

Monthly Import Cargo Continues to Rise Despite Supply Chain Challenges

Monthly inbound cargo volume at the nation’s major container ports is continuing to rise despite a variety of supply chain challenges, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“Lulls between supply chain challenges seldom last long, and importers are currently looking at issues including high shipping rates, unresolved port labor negotiations and continuing capacity and congestion issues from the ongoing disruptions in the Red Sea,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said...

Consumers Remain ‘Willing to Spend’ Even as Growth Slows

Shoppers are still willing to buy even as smaller job and wage gains and high interest rates are slowing the growth of consumer spending, National Retail Federation Chief Economist Jack Kleinhenz said today.

“U.S. economic growth for the remainder of this year will depend on several factors but particularly the pace of job growth, inflation and what actions will be taken by the Federal Reserve,” Kleinhenz said. “The good news is that the economy is growing, inflation is moderating, and overall fundamentals look fine as increased consumer spending supports underlying momentum.”...

Monthly Import Cargo To Reach 2 Million TEU Through Early Fall

Monthly inbound cargo volume at the nation’s major container ports should consistently be above 2 million Twenty-Foot Equivalent Units through this summer and into early fall, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“We haven’t seen numbers this high for this many months in almost two years,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Regardless of what headlines about the economy might say, consumers are shopping and retailers are making sure they... 

First Quarter Results Show Economy is Slowing but ‘Remains Resilient’

Economic growth slowed during the first three months of the year, but consumers are still spending more than last year, National Retail Federation Chief Economist Jack Kleinhenz said today.

“The U.S. economy lost some spring in its step during the first quarter as the pace of growth declined, and the downshift came with an unexpected bout of inflation,” Kleinhenz said, noting that prices for services are still increasing even as prices for goods level off. “But even with signs that the economic expansion is decelerating, the economy remains resilient...

CNBC/NRF Retail Monitor Shows Retail Sales Grew in March Amid Wage Gains and Easing Inflation 

Retail sales grew at a steady pace in March, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation.

“As inflation for goods levels off, March’s data demonstrates steady spending by value-focused consumers who continue to benefit from a strong labor market and real wage gains,” NRF President and CEO Matthew Shay said. “In this highly competitive market, retailers are having to keep prices as low as possible to meet the demand of...

NRF Announces Promotion of Chief Lobbyist

The National Retail Federation today announced the promotion of David French from senior vice president to executive vice president of government relations and executive director of the National Council of Chain Restaurants. Since joining NRF in 2011, French has led the organization’s advocacy strategy to advance the retail industry’s legislative priorities.

“As NRF’s chief lobbyist, David is a great partner of many years who has done an incredible job with public policy efforts that support retailers and the millions of people they employ and the communities they serve,” NRF President and...

February CNBC/NRF Retail Monitor Numbers Show Consumers Continued Spending in February

Retail sales continued to grow in February, building off solid gains from January, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation. Click here to access February’s retail data.

Total retail sales, excluding automobiles and gasoline, were up 1.06% seasonally adjusted month over month and up 6.3% unadjusted year over year in February, according to the Retail Monitor. That compared with a decrease of 0.16% month over month and an increase of 2.34% year over year in January...

Import Cargo Returning to Normal After Red Sea Disruptions

With the supply chain adjusting to ongoing Houthi rebel attacks on commercial vessels in the Red Sea, inbound cargo volume at the nation’s major container ports remains on track to show year-over-year increases through the first half of 2024, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“Retailers continue to work with their partners to mitigate the impact of disruptions from the Red Sea and Panama Canal restrictions,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said...

NRF Economist Says Labor Market and Interest Rates Will Play Major Roles in 2024

After a better-than-expected performance in 2023, what happens with the economy in 2024 could depend largely on the labor market and what the Federal Reserve does with interest rates, National Retail Federation Chief Economist Jack Kleinhenz said today.

“Federal Reserve officials have tough policy choices ahead as they decide on what to do and when,” Kleinhenz said. “There is still a risk that keeping rates too high could curb the economy’s momentum more than necessary. Yet if they lower rates too soon...

The Retail Rundown: Touching Down on Super Bowl Spending

The retail sector is touching down on the first major retail food-buying occasion of the year—the Super Bowl. The game between the Kansas City Chiefs and San Francisco 49ers will take place on Sunday, February 11^th and grocers have plenty to celebrate ahead of what could be a record-smashing milestone for sales.

A record 200.5 million viewers are expected to tune in to Super Sunday, according to the National Retail Federation (NRF). Collective spending on food, drinks, apparel, decorations, and other purchases could hit $17.3 billion, also...

Super Bowl 2024: Total Spending Expected To Reach Record $17.3 Billion For Chiefs vs. 49ers Game

The Kansas City Chiefs and San Francisco 49ers are heading to the Super Bowl this year. The two teams are set to face off against each other in Las Vegas on Sunday, February 11. And while there could be a debate as to whether people are tuning in for the actual game or just Taylor Swift sightings, the National Retail Federation (NRF) says that 200.5 million adults plan to watch. 

According to the latest consumer spending data from NRF and Proper Insights & Analytics...

Kroger CIO Discusses Digital Innovation Trends for Grocery Retail in 2024

The Kroger Co. (NYSE: KR) today shared Chief Information Officer (CIO) and Senior Vice President (SVP) Yael Cosset joined Sucharita Kodali, Vice President at Forrester Research, this week at the National Retail Federation's (NRF) Big Show for a conversation on Kroger's digital journey and how that transformation impacts customers and associates.

"We continue to invest in our digital transformation journey by enhancing our customer and associate experiences, recognizing that both are equally impactful to gaining loyalty and earning our customer's...