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July Retail Sales Show Strong Gains
Retail sales were up 0.9 percent in July seasonally adjusted from June and up 5.6 percent unadjusted year-over-year, the National Retail Federation said today. The numbers exclude automobile dealers, gasoline stations and restaurants.
“July’s strong results are consistent with a confident consumer,” NRF Chief Economist Jack Kleinhenz said. “Households are in good shape with spending and that should continue as long as the labor market remains healthy. But it’s important to remember that today’s data is looking backward at what was happening a month ago. The impact of volatile financial markets and increased trade tensions in recent weeks may put a wind of caution in consumer spending as...
May’s Retail Sales Show Consumer Resilience and Confidence in the Economy
Retail sales rose 0.5 percent in May seasonally adjusted from April and up 3.2 percent unadjusted year-over-year, the National Retail Federation said today. The numbers exclude automobile dealers, gasoline stations and restaurants.
“Today’s retail numbers, and upward revisions to prior months, reinforce the ongoing strength of the consumer and are consistent with a pick up in the pace of the economy in the coming months. The strong job market, recent income gains and elevated confidence translates into ongoing support for spending. Households, in the aggregate, are in solid financial condition but an escalation in trade tariffs will undoubtedly create a considerable downdraft to confidence and spending, or lead to...
Retail Sales Declined at Fastest Pace Since 2009 in December
An important measure of consumer spending posted its strongest drop since 2009 in December, a worrying sign for economic growth as shoppers reined in spending at the close of the year.
Retail sales, a measure of purchases at stores, restaurants and online, declined a seasonally adjusted 1.2% in December from a month earlier to $505.8 billion, the Commerce Department said Thursday. Economists surveyed by the Wall Street Journal had expected sales to increase 0.1% in December.
The final month of the holiday season is key for the retail sector, especially for department stores, clothing outlets and online sellers.
The Commerce Department report showed every major retail category aside from...
AAA: One in Three Americans Will Travel this Holiday Season, the Most on Record
AAA forecasts that more than one-third of Americans will travel this holiday season. The record-breaking 112.5 million travelers taking to the nation’s runways, roads and rails for the year-end holidays represents a 4.4 percent increase over last year and the most since AAA has been tracking holiday travel. For the more than 102 million people who will pack up their cars for a holiday road trip, INRIX, a global mobility analytics company, predicts travel times in the most congested cities in the U.S. could be as much as four times longer than a normal trip.
“’Tis the season for holiday travel, and more Americans than ever will journey to spend time with friends and family or choose to take a vacation,” said Bryan Shilling, managing director, AAA Travel products and services. “Strong economic growth fueled by robust consumer spending continues to drive strong demand for seasonal travel. With a record-breaking one-third of the country choosing to travel this holiday, roadways and airports are sure to be busy...
Restaurant Sales Continue To Improve As Guests Visit Less But Spend More
Same-store sales growth on a two-year basis was 1.1 percent during October according to TDn2K’s Black Box Intelligence™ data, based on weekly sales from over 30,000+ locations representing 170+ brands and nearly $71 billion in annual sales.
Headlines continue to be encouraging for the industry, as chain restaurants posted their fifth consecutive month of positive same-store sales growth during October. This month’s sales growth rate of 0.8 percent does represent a slowdown from the 1.2 percent reported for September and the 1.8 percent for August, but there was a promising sign in October’s results. Same-store sales growth on a two-year basis was 1.1 percent during October. As a comparison, two-year sales growth rates averaged -0.9 percent for the previous six months. These insights come from TDn2K’s Black Box Intelligence™ data, based on weekly sales from over 30,000+ locations representing 170+ brands and nearly $71 billion in annual sales.
“As the industry heads into the fourth quarter, the fear was that...
This Week in Retail: How Grocery Spending Stacks Up Among the States
Recent data released by the United States Census Bureau shows that meat and poultry make up the highest percentage of grocery sales in the U.S. at 10.5 percent. Produce accounts for the second highest percentage with 9.2 percent. In third place, dairy claims 7.1 percent, while frozen foods come in fourth with 5.2 percent. Deli items represent 3.8 percent of national grocery sales, narrowly beat out by soft drink and non-alcoholic beverage sales at 4 percent.
States spending the highest proportion of their grocery sales on meat and poultry include Louisiana and Mississippi, accounting for 16.1 and 15.1 percent, respectively. Arkansas follows in third place with 14.3 percent, then Alabama with 13.8 and Oklahoma with 13.4 percent. Puerto Rico meat and poultry sales notably account for a whopping 19.8 percent of total grocery sales.
Conversely, states spending the least amount on meat and poultry at the grocery store, or less than the national average, include Hawaii at 8.1 percent, followed by Washington and Oregon, accounting for just...
Canadians Spend Their Extra Dollars on Entertainment, Travel and Dining Out in 2018
As the saying goes, “money can’t buy happiness,” and while the jury is still out on whether or not that’s true, the majority seem to agree that life isn’t about material items as 58% of Canadians value experiences more than things. New research from Mintel reveals that consumers are more likely to spend their discretionary dollars on experience-focused categories in 2018 as compared to a year ago, with entertainment (39% in 2018 vs 25% in 2017) and dining out (38% vs 30%) ranking as the top ways consumers spend their extra income. Rounding out the list of the top three ways consumers are spending their extra dollars this year is on travel (35%).
Although experiences are winning over consumers, debt reduction remains a priority. One third (33%) of consumers are putting their discretionary money toward...
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