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Canadians Unwilling to Give up Dining out, Vacation, & Streaming TV Service Despite Strong Inflation
A new Service Line Warranties of Canada (SLWC) survey of Canadian homeowners examined the impact inflation is having on the Canadian home with almost 90% of respondents reporting that inflation is impacting their household budget. More than 60% said that the higher prices that have resulted from inflation has caused them to put off home repairs, renovations or upgrades.
The survey also looked at what Canadians are most willing to give up – or conversely, least willing – to help balance their budgets. Dining out, vacation, and streaming...
NRF Predicts Healthy Holiday Sales as Consumers Navigate Economic Headwinds
Holiday spending is expected to be healthy even with recent inflationary challenges, as the National Retail Federation today forecast that holiday retail sales during November and December will grow between 6% and 8% over 2021 to between $942.6 billion and $960.4 billion. Last year’s holiday sales grew 13.5% over 2020 and totaled $889.3 billion, shattering previous records. Holiday retail sales have averaged an increase of 4.9% over the past 10 years, with pandemic spending in recent years accounting for considerable gains.
“While consumers are feeling the pressure..."
August Retail Sales Supported by Job and Wage Gains Amid Continued Inflation
Consumers’ willingness to spend overcame inflation again in August as more jobs and higher wages helped ease some of the pressure of continuing high prices, the National Retail Federation said today.
“August retail sales show consumers’ resiliency to spend on household priorities despite persistent inflation and rising interest rates,” NRF President and CEO Matthew Shay said. “As we gear up for the holiday season, consumers are seeking value to make their dollars stretch. Retailers have been hard at work managing their supply chains and holiday inventories to provide..."
Pork Checkoff: Mixed Signals in the Market as Some Items Struggle, Others Trade Firm
The cure for high prices is high prices — lack of features and ample inventory cause prices to adjust and create future opportunities.
Highlights• Following the record-breaking levels of a year ago, backribs are now at the lowest levels of the past five years. Prices may need to stay low for a bit longer to “buy” some demand from retail and foodservice. For operators, current prices present excellent feature opportunities.
• Pork prices were firm at the end of the week on seasonally lower slaughter as well...
Poultry Quarterly Q3 2022: Bullish Outlook With Strong Demand and Big Operational Challenges
The outlook for the global poultry industry for 2H 2022 is bullish, despite significant cost pressures and other operational challenges.
Demand is strong, with most countries open after adopting ‘living with Covid’ strategies. This is pushing up poultry demand, while global pressure on spending power and high food prices are also leading consumers toward the lowest-priced meat protein: poultry.
The biggest challenge for the industry is on the operational side. Feed and energy prices are higher than they have been in many years...
ANALYSIS: Frozen Beef Inventory Continues to Decline; Pork Stocks Edge Higher
ANALYSIS: Turkey Poult Placements Signal Ongoing Production Slump
UB Consulting: The Foodservice Industry – Are We in a Bubble?
UB Consulting: Will Chicken be the Winner in a Potential Economic Downturn?
VIDEO: Webinar - The Global Impact of HPAI