According to the Bureau of Labor Statistics of the United States Department of Commerce, retail helped hold the line on the unemployment rate in December.
Imports remain strong after setting new records this fall as retailers stocked up both stores and warehouses for the holiday season and met new demands for quick delivery of online orders, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Preliminary reports suggest that, although sales gained online, brick and mortar retail wasn’t quite as vibrant on Black Friday as in years past, although that might be a good thing.
In a complex retail marketplace roiled by the COVID-19 pandemic, the National Retail Federation forecast that sales in the November and December holiday season will gain between 3.6% and 5.2% this year versus the 2019 period to a total between $755.3 billion and $766.7 billion.
Deloitte has released the latest edition of the company’s “Global State of the Consumer Tracker,” which points to gains in consumer confidence and convenience-based shopping habits.
A strong rebound in apparel led a continuing recovery from the pandemic as retail sales accelerated their rate of growth in September and marked the fourth straight month of year-over-year gains, the National Retail Federation said.
In its annual holiday forecast, Deloitte anticipates retail sales to increase between 1% and 1.5%, although the consulting firm admits that figuring out what might go on as 2020 ends is particularly uncertain.
Imports at major U.S. retail container ports during 2020 are expected to see their lowest total in four years as the impact of the coronavirus pandemic on the U.S. economy continues, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Economic activity in the manufacturing sector grew in July as the overall economy enjoyed a third consecutive month of growth, according to the Manufacturing ISM Report On Business from the Institute for Supply Management.
Expenditures for improvements and repairs to owner-occupied homes are expected to slow by the middle of next year as the COVID-19 pandemic continues to unfold, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Retail sales rose in June, the National Retail Federation reported citing United States Census Bureau numbers, a gain that represented both a monthly increase and the first year-over-year gain since the beginning of the year as more retailers closed by the coronavirus pandemic reopened.
The Retail Robustness Index is a Coresight Research effort to determine which retailers are best able to cope with the coronavirus crisis and Costco now ranking second might not surprise anyone.
Retail sales this year will come up short of 2019 totals, but e-commerce sales will take a bigger than expected leap, according to research from eMarketer.