The National Retail Federation says 2022 holiday sales grew 5.3%, missing an earlier forecast. That was due to ongoing inflation and steep interest rates, the federation said in a news release Wednesday (Jan. 18), while announcing that sales for the year met the group’s expectations....
December sales data reveals that grocers did not get the predicted boost this holiday season. The U.S. Census Bureau’s advanced monthly sales report, released Wednesday (Jan. 18), showed that grocery store sales rose only 0.1% between November and December. This almost negligible increase marks a...
As D2C brands build their followings, remaining digital-only can restrict their growth. In an interview with PYMNTS, Joey Zwillinger, co-founder and co-CEO of direct-to-consumer (D2C) footwear company Allbirds, which also has a traditional retail presence, noted that physical channels can be key to building trust...
With retailers posting their worst results in a year during their most important month for sales, the time for self-guided digitalization has arrived. Instead of cranking out discounts and relying on strapped consumers to chase deals, a growing number of retailers and brands are poised...
After a COVID-inspired sales drop, luxury brands Burberry and Richemont see hope in China’s reopening. The country last week lifted some of its pandemic restrictions, offering a balm to retailers who welcome the return of shoppers from China, the world’s second-largest luxury goods consumer base...
Party City is seeking bankruptcy protection, the latest casualty of consumer cutbacks on non-essential spending. The party supply retailer announced the decision to file for Chapter 11 protection Tuesday (Jan. 17), saying its subsidiaries outside the U.S., its Party City franchise stores, and Anagram —...
Officially it’s called Retail’s Big Show, but NRF 2023 was also about Retail’s Big Tech. As in, the retail industry’s increasing embrace of Big Tech and the scores of artificial intelligence (AI) solutions being showcased at the just-wrapped annual National Retail Federation convention in New...
U.S. retail sales fell for a second month in December as slumping department store receipts saw the key economic benchmark post its weakest tally in a year. Officially, the Census Bureau report released Wednesday (Jan. 18) showed a 1.1% decline from the previous month, which...
Grocers are noticing that, to win shoppers’ loyalty, they have to offer self-service checkout options. The Context Grocers continue to add self-checkout capabilities. Last month, grocery chain Weis Markets, which operates about 200 stores across seven East Coast states, announced that it was implementing Toshiba Global...
