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U.S. General Merchandise Unit Sales Fell 7% in April, as Retail Revenue Declined 1%, Reports NPD
As demand softens, the retail product mix needs to attract both value seekers and premium buyers
The consumer’s willingness to spend has been crucial to maintaining a healthy level of retail performance throughout the pandemic, but demand has been softening for several months. April 2022 U.S. general merchandise unit sales were 7% lower than a year ago, creating a 1% decline in sales revenue, according to The NPD Group.
“Higher retail prices have buffered demand declines but their escalation, combined with rising gas prices..."
Rising Retail Prices Will Increasingly Test Consumers’ Appetite for Meat
Full effects of producer price inflation will become apparent in grocery meat cases
U.S. consumer demand for retail meat remains exceptionally strong despite higher prices stemming from increased production costs and supply chain limitations. However, once the full effects of producer price inflation finally hit retail meat cases, consumer demand for meat will be tested again, according to a new report from CoBank’s Knowledge Exchange.
“Retail meat prices will remain elevated throughout 2022,” said Brian Earnest, lead animal protein economist with CoBank. “The sharply higher costs for feed..."
Consumers Pull Back on Purchasing as Retail Prices Remain Elevated, Reports NPD
U.S. consumers have started to pull back on discretionary general merchandise purchases, but average selling prices continue at the pandemic’s elevated levels. Unit sales declined in excess of 8% for six consecutive weeks following the holiday shopping season, when compared to a year ago, according to The NPD Group. Despite higher prices, these unit declines kept retail sales revenue performance marginal, at best. The one exception so far in 2022 has been the pre-Super Bowl and Valentine’s Day week, ending February 12, which saw a...
U.S. Inflation's Persistent Rise Hits Fastest Pace in 39 Years
U.S. inflation reached a nearly four-decade high in November, as strong consumer demand collided with pandemic-related supply constraints.
The Labor Department said the consumer-price index -- which measures what consumers pay for goods and services -- rose 6.8% in November from the same month a year ago. That was the fastest pace since 1982 and the sixth straight month in which inflation topped 5%.
The so-called core price index, which excludes the often-volatile categories of food and energy, climbed 4.9% in November from a year earlier...
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