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May Retail Sales Reach Near-Record Level Despite Monthly Decline
Retail sales remained at elevated levels in May despite month-to-month fluctuations that masked near-record performance, the National Retail Federation said.
“While May retail sales were down slightly, largely due to supply chain constraints, the more accurate indicator remains in the year-over-year data which, as the NRF calculates, showed growth of over 17 percent,” NRF President and CEO Matthew Shay said. “For the first five months of this year, retail sales are already tracking 17.6 percent above the same five months of 2020, giving us further confidence in our newly revised sales forecast of growth between 10.5 percent and 13.5 percent to more than $4.44 trillion for 2021. While there are downside risks related to...
Retail Sales to Now Exceed $4.44 Trillion in 2021, as NRF Revises Annual Forecast
The National Retail Federation issued its revised annual forecast for 2021, anticipating that retail sales will now grow between 10.5 percent and 13.5 percent to more than $4.44 trillion this year as the economy accelerates its pace of recovery.
“The economy and consumer spending have proven to be much more resilient than initially forecasted,” NRF President and CEO Matthew Shay said. “The combination of vaccine distribution, fiscal stimulus and private-sector ingenuity have put millions of Americans back to work. While there are downside risks related to worker shortages, an overheating economy, tax increases and over-regulation, overall households are healthier, and consumers are demonstrating...
ANALYSIS: Cage-Free Inventories Mount as Proposition 12 Deadline Draws Closer
While cage-free inventories have been steadily climbing over the past several years as producers prepare for the forthcoming deadlines, USDA data shows they’ve begun to increase at a faster pace in recent weeks, surging...
Retail Looks Forward as the US Emerges from the Pandemic
As the United States emerges from pandemic rules in the coming months, there will be changes, large and small, for retailers to consider, as they map their way forward. Companies will be setting new policies regarding returning to offices, more schools will reopen for in-person learning, and consumers will again start to travel, all of which have enormous implications for the retail industry, according to The NPD Group.
In a recent presentation to the Retail Industry Leaders Association (RILA), NPD Chief Retail Strategist Don Unser outlined the retail industry headwinds and tailwinds expected in the coming year. Following are three of the most critical trends affecting retailers in the coming months...
PLANT PROTEIN: Get to Know Players in the Plant Protein Market: The Better Meat Company
“Of course people like eating burgers, people like eating meat! We want to give people that same experience, just with a far more diversified portfolio of proteins. Whether that means it’s a blended burger, a plant-based burger, or a burger made from microbial proteins, we want to give people the experience of eating meat that people want, but with a much smaller footprint on the planet.” said Paul Shapiro, The Better Meat Company’s CEO, TEDx speaker, bestselling author, podcast host, plant-based fish stick enjoyer, and animal lover.
With just three growth packed years in the industry and 16 employees, The Better Meat Company provides high quality plant protein formulations to major food companies for use in both blended meat-plant hybrid products and traditional plant-based foods...
March Retail Sales See Strong Rebound Amid Increased Vaccination and Government Stimulus
Retail sales rebounded with huge gains in March as government checks fattened consumers’ bank accounts and more vaccination against COVID-19 made it easier for shoppers to get out of the house and lead the acceleration of the U.S. economy, the National Retail Federation said.
“The dramatic increase of nearly 18 percent in March retail sales over the same period last year confirms that a confident consumer is driving the economic rebound, and that should continue through the remainder of 2021,” NRF President and CEO Matthew Shay said. “American households are clearly feeling the full effect of additional fiscal stimulus, gains in the job market and the reopening of the economy. Although there have been some recent issues related to vaccines, consumer confidence remains...
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