With Food Prices Rising, Consumers Pull Back on Other Retail Spending, Reports NPD

Pre-holiday declines in general merchandise sales emerge as grocery spending continues to rise

U.S. general merchandise retail sales revenue declined during the three weeks ending November 5, 2022. Year-over-year sales revenue in October fell 5% below a year ago, followed by a 14% decline in the first week of November. Several factors contributed to declining sales, with the rising cost of living at the forefront, according to The NPD Group, which recently merged with Information Resources, Inc. (IRI) to create a leading global technology...

Kroger Promises a Thanksgiving Fresh for Everyone

The Kroger Co., America's grocer, today shared its efforts to cushion customers from the impacts of inflation as they prepare holiday meals, including a zero-compromise shopping guide with meal options that can feed 10 people for as little as $5 per person. The grocer, who estimates the cost of turkey has risen 20 cents per pound this year, will not shift the rising cost to customers.

"At Kroger, we are committed to making the holiday season memorable and accessible for everyone," said Stuart Aitken, Kroger Senior Vice President and Chief Merchant...

Church’s Texas Chicken® Introduces Festive Holi-Deals® Family Meal

Church’s Texas Chicken®, one of the world’s largest quick-service chicken restaurant chains known for its bold Texas flavors, is launching a new “Holi-Deals®” menu item to provide a deliciously bold meal at a favorable price as the busy holiday season approaches.

The Holi-Deals® Family Meal is perfect for those larger gatherings in need of a flavorful meal and includes a 10-piece leg and thigh assortment, two large classic sides, five Honey-Butter Biscuits™ and five Jalapeño peppers starting at $20...

Southeastern Grocers Offers $30 Thanksgiving Feasts Ahead of Holiday

Southeastern Grocers Inc. (SEG), parent company and home of Fresco y Más, Harveys Supermarket and Winn-Dixie grocery stores, is celebrating Thanksgiving by making holiday meal planning easier and more affordable for its customers. The grocer is offering exceptional deals on Thanksgiving turkeys, hams and other holiday essentials ahead of Fresco y Más, Harveys Supermarket and Winn-Dixie stores closing Thanksgiving Day as a display of gratitude for their hardworking associates.

Dewayne Rabon, Chief Merchandising Officer for Southeastern Grocers, said, “We understand our customers are looking...

NRF Says Strong Consumer Fundamentals Counter Inflation and Interest Rates in Holiday Forecast

The National Retail Federation balanced high inflation and rising interest rates against strong consumer fundamentals as it developed its 2022 holiday spending forecast, Chief Economist Jack Kleinhenz said today.

“There are many factors impacting our holiday forecast, but business conditions are generally positive as consumer fundamentals continue to support economic activity,” Kleinhenz said. “Despite record levels of inflation, rising interest rates and low levels of confidence, consumers have been steadfast in their spending and remain in the driver’s seat. The latest figures show the economy..."

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..."

Global Pork Quarterly Q4 2022: Producers Cautious as Global Uncertainties Rise

Demand uncertainties rise as consumers face mounting pressures. With inflation outpacing wage growth, lower real wages are expected to negatively impact protein consumption in Q4 2022 and 1H 2023.

Value-conscious consumers are already seeking out lower-value cuts, trading down from branded to private label alternatives at retail, and limiting foodservice purchases, adding further weakness to premium product markets. Holiday sales will test the market’s resilience and its ability to absorb premiums. Lower GDP growth expectations in 2023 will limit market needs, slow herd-rebuilding efforts, and impact...

SpotOn Finds Most Restaurant Operators Making Operational Changes to Capitalize 2022 Holiday Season

As restaurants gear up for the holidays, SpotOn, the top-rated software and payments partner for restaurants, is helping owners and operators maximize revenue and streamline operations for a memorable—and profitable—season. According to SpotOn’s State of Restaurant Tech Report, restaurant operators say that the holiday season accounts for up to 20% of their annual sales, with fine dining operators putting that figure at nearly half (49%). With a significant portion of annual revenue on the line, restaurants are turning to technology to drive operational efficiencies...