Retailers, consumers and prices
Check out the spending boost planned by Americans for Halloween.
The National Retail Federation said spending by the 148 million Americans who partake in the “spooky” October holiday is expected to surge almost 18 percent this year as revelers look for any reason not to think about high unemployment and a shaky housing market.
“In recent years, Halloween has provided a welcome break from reality, allowing many Americans a chance to escape from the stress the economy has put on their family and incomes,” NRF CEO Matthew Shay said in a statement.
“This year, people are expected to embrace Halloween with even more enthusiasm, and will have an entire weekend to celebrate since the holiday falls on a Sunday,” he added.
Americans will spend an average of $66.28 on costumes, candy and decorations (or a total of $5.8 billion), up from last year’s average of $56.31. However, that is still short of the $66.54 spent in 2008, according to the study conducted by BIGresearch for the NRF. Retailers love Halloween because it comes between the back-to-school and December holidays in luring consumers into stores.
Check out the increasing appetite for mobile applications among U.S. online retailers.
Nearly three-quarters (74 percent) of online retailers either already have or are developing a mobile strategy and one out of every five has a fully implemented mobile strategy already in place, according to a study from Forrester Research and Shop.org, the National Retail Federation’s digital division.
Check out what retailers are thinking about China’s revaluation of the yuan.
Western retailers may pay more for goods they import from China as the yuan appreciates, but the flip side is that the move may create significant selling opportunities by putting more money in the pockets of consumers in the world’s biggest market.
After their abysmal 2009, nearly half of all U.S. retail chains plan on at least maintaining their number of stores this year, according to a survey released on Thursday by consultancy KPMG and industry group the National Retail Federation.
Far more retailers were planning to open stores than close them, according to the survey of 310 retail industry executives, representing 138 companies, conducted late last year.
Check out a prediction for increased U.S. retail sales this year.
The National Retail Federation said U.S. retail sales should rise 2.5 percent this year, signaling that stores have made it through the worst of the downturn as improvements in the housing and job markets bolster shoppers’ confidence.
The projected increase would be a step up from a 2.5 percent decline last year and 1.3 percent increase in 2008, NRF said.
The numbers could rise year-over-year in February, for the first increase in more than two years, according to the monthly Port Tracker report released by the National Retail Federation (NRF) and IHS Global Insight.
The trade group held a conference call later in the day to add details about their forecast. Here is what NRF spokeswoman Ellen Davis said about the forces that will shape the upcoming holiday shopping season:
The National Retail Federation has issued its 2009 back-to-school spending survey and the results show that the ringing of school bells won’t necessarily translate into the happy ringing of cash registers.
But the one part of stores where parents and students expect to boost their spending despite the ongoing recession is electronics.
Parents plan to spend less money on back-to-school gear for their children this year in another worrisome sign for retailers heading into what is normally their second biggest selling period behind Christmas.
The average family with children in kindergarten through 12th grade is expected to spend $548.72 on back-to-school merchandise this year, down 7.7 percent from 2008, according to the National Retail Federation.
The recession hammered U.S. holiday sales last year and new research suggests that it also drove up ”shrink” — a retail industry term for shoplifting, employee theft, and administrative errors.
An estimated $36.5 billion was lost to “shrink” in 2008, according to preliminary findings from the latest National Retail Security Survey released today.