Economy

Articles on how the economy is impacting retail.

  1. Trends & External Forces

Report: Retail Sales Grew at a Steady Pace in March

Retail sales grew at a steady pace in March in part due to wage gains and easing inflation for goods, according to the CNBC/NRF Retail Monitor report, powered by Affinity Solutions, released on Monday by the National Retail Federation (NRF). According to the Retail Monitor report, total retail sales were up 2.72 percent unadjusted year-over-year […]
2 min read
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  1. Technology & Innovation

Retail Innovation Conference & Expo 2024: The Latest News on Sessions, Speakers & Experiences

Are you ready to explore the evolved customer journey? The Retail TouchPoints team is reporting on all the news breaking before, during and after the Retail Innovation Conference & Expo, taking place June 4-6, 2024, at McCormick Place in Chicago. This year, we’ll hear senior-level executives’ perspectives on how customer experiences are evolving as content, […]
5 min read
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  1. Channel: Drug

The PR Perils of Inaccurate Sales Tax

It’s rare that sales tax issues make the news, and when they do, it’s generally not great for the seller. Earlier this year, things held to form when media in Massachusetts reported a sales tax calculation error on the Walgreens ecommerce website. The facts as reported support the notion of an honest mistake by the […]
4 min read
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  1. Media & Marketing

Primark President: ‘Our Business is Set Up for People to Grow Into’

Editor’s Note: As the Retail Innovation Conference & Expo (RICE) nears, we’re highlighting recent coverage of some of the speakers and companies that will be taking the stage in Chicago, June 4-6, 2024. Kevin Tulip, President of Primark U.S., will be one of several C-level leaders speaking in the C-Suite Corner, where they’ll delve into the macro […]
5 min read
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  1. Department: Nonfood

CNBC/NRF: Retail sales grew at a steady pace in March

WASHINGTON – Retail sales grew at a steady pace in March, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation. “As inflation for goods levels off, March’s data demonstrates steady spending by value-focused consumers who continue to benefit from a strong labor market and real wage gains,” […]
2 min read
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  1. Shopper & Customer

Consumer spending boost predicted for second half of the year 

Grocery spending, up just 2.7%, recorded its slowest growth since September 2022, due to falling food price inflation, which reached its lowest level (5.0%) since January 2022, according to Barclays. Despite this, concerns about general inflation have risen to 87%, after hitting a record low… This story continues at Consumer spending boost predicted for second […]
< 1 min read
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  1. Department: Nonfood

3 Social Impact Tools for Retail Leaders

In today’s retail landscape, success extends far beyond profit margins and market share. Increasingly, consumers are looking to align their purchasing decisions with their personal values, driving the need for retailers to incorporate social impact initiatives into their business strategies. When I audit companies, they often show me their CSR and sustainability report where I […]
2 min read
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  1. Associates & Employees

Rethinking Employee Benefits: Flexible Pay and Schedules

The volatile economy has generated a lot of uncertainty over the past year, causing employees to want stability and, therefore, stay at their current jobs. The 2.1 percent quit rate in January was the lowest level since August 2020 — despite multiple companies offering higher wages. To attract and retain the best employees, retailers need […]
2 min read
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  1. Data & Insights

Retail Buying and Merchandising Trends in 2024

In 2024, the landscape of buying and merchandising is witnessing significant transformations driven by evolving consumer preferences, technological advancements, and socio-economic shifts. Let’s dive into four key trends reshaping the retail industry this year. Embracing Sustainable Partnerships: Sustainability has transcended from a buzzword to a fundamental expectation among consumers. With an increasing awareness of environmental […]
4 min read
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  1. Trends & External Forces

How Do Democrats and Republicans Feel About Certain U.S. Industries?

See this visualization first on the Voronoi app. Industry Favorability, by Political Party This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Much and more has been written, in the last decade particularly, about the U.S. […]
3 min read
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  1. Technology & Innovation

Social Media, In-Car, And Gaming Commerce

Recently, there has been a noticeable change in consumer behavior driven by evolving expectations, shifting retail channel preferences, and varying brand shopping habits. From this disruption, three noteworthy emerging trends have surfaced: social media commerce, in-car commerce, and gaming commerce. This week, we dive into how these trends are reshaping the shopping experience for consumers […]
2 min read
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  1. Data & Insights

Rising Above: Overcoming Retail Challenges with Creativity

Throughout the years, the retail industry has faced numerous threats, ranging from IoT bot attacks to incidents of shoplifting and even promotional strategies that deter customers. To overcome these complex challenges, retailers need to stay alert, flexible, and use creative approaches to manage risks and maintain success in a competitive market. This week we dive […]
2 min read
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  1. Channel: Marketplace

Shopify Helps Hawaiian Brands Say ‘Aloha’ to NYC

Shopify is partnering with Mana Up, an accelerator and venture fund for Hawaii-based products, on an immersive market concept designed to spotlight emerging brands from “the Aloha state.”   Aloha Market will run April 26 to 28, 2024, at Shopify’s NYC activation space in SoHo, and will feature unique products from more than 40 Hawaii creators […]
2 min read
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  1. Corporate Strategy

The New Retail Reality: Embracing AI-Driven Dynamic Pricing

In an economic landscape filled with challenges, dynamic pricing emerges as a vital strategy for retailers aiming to maintain and enhance their market presence. According to McKinsey, optimizing pricing decisions could significantly impact profits, indicating that a minor 1 percent price increase might lead to an 8.7 percent profit boost. This modern approach to pricing, […]
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  1. Stores & Formats

99 Cents Only Stores Files for Bankruptcy Protection

99 Cents Only Stores announced last week that it had filed for bankruptcy protection in the United States Bankruptcy Court for the District of Delaware, days after it said it was closing all of its 371 locations. Founded in 1982, 99 Cents Only Stores currently operates stores in California, Texas, Arizona and Nevada. Number Holdings, Inc., the parent company […]
2 min read
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  1. Stores & Formats

UPDATE: Uniqlo Unveils Locations for 11 New Stores Opening in 2024

[Update as of 4/8/2024] Uniqlo has revealed locations for the additional 11 stores it plans to open this year, including five in Texas, a new state for the fast fashion apparel retailer, and six additional stores in California. According to an interview in the Wall Street Journal, Yoshihide Shindo, Chief Executive of Uniqlo USA, said […]
2 min read
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  1. Trends & External Forces

NRF unveils 2024 Top 50 Global Retailers

WASHINGTON  – The National Retail Federation today announced the 2024 Top 50 Global Retailers. Conducted by Kantar, the 2024 list ranks international retailers, based on their operational performance as of the beginning of 2023. “In our increasingly interconnected global economy, retailers are continually expanding their international customer base,” NRF Executive Director of Research Mark Mathews said. […]
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  1. Shopper & Customer

Sephora, Dove top CPG 2024’s Most Innovative Brands List

NEW YORK – CPG brands outpaced technology nearly 2:1 in the 2024 Most Innovative Brands survey conducted by Brand Keys Inc. (www.brandkeys.com), the New York-based brand loyalty and engagement research firm. “For the first time consumers acknowledged more CPG than Tech brands,” noted Robert Passikoff, brand keys founder and president. “And, for the first time, […]
3 min read
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  1. Media & Marketing

The Future of Loyalty Programs: Community, Crowdsourcing and Beyond

Brands and retailers that specialize in formal events and big “life moments” (think weddings, proms and the like) need to think about customer loyalty — how to win it and how to keep it — in a completely different way. For example, David’s Bridal has leaned into community and crowdsourcing to create programs that allow […]
< 1 min read
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  1. Trends & External Forces

Return to Normalcy? Leading Marketing in a Post-Covid Era

The past three years have disrupted life and business as we know it. Now that the world is emerging from a pandemic, what’s next? For insight, let’s flash back to 1920. The U.S. has just come through a deadly influenza pandemic, a world war, and was experiencing both substantial labor unrest and race riots across […]
5 min read
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  1. Media & Marketing

99 Cents Only to Close All 371 Locations, Hold Liquidation Sale in Business Wind-Down

99 Cents Only Stores will wind down its business and shutter its 371 locations across California, Texas, Arizona and Nevada after more than 40 years in operation. The decision follows a months-long attempt to find an alternative solution, but ultimately the company decided a wind-down was the best way to “maximize the value of 99 Cents Only Stores’ assets,” the company said […]
2 min read
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  1. Data & Insights

Marketing Spending and Hiring Growth Slows Amidst Economic Uncertainty

Results from the 30th edition of The CMO Survey indicate that inflation and economic uncertainty are harming marketing spending as the C-suite retrenches and cuts costs. While more than half of marketers reported a 10.4 percent increase over the previous year in the September 2022 survey, this group is reporting just 2.9 percent growth over […]
4 min read
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  1. Data & Insights

New Results from the Fall 2023 Edition of The CMO Survey

AI bolsters marketing returns, weaker Diversity, Equity, and Inclusion investments and impact, and brand activism shifts to hot-button societal issues are among the results of the Fall 2023 edition. Results are based on a sample of 316 marketing leaders at for-profit U.S. companies, 96% of whom hold positions of VP-level or higher. Marketer Optimism Rises, […]
5 min read
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  1. Trends & External Forces

Tales of the Unsurprised: U.S. Brand-Name Drug Prices Fell for an Unprecedented Sixth Consecutive Year—And Will Fall Further in 2024 (rerun)

This week, I’m rerunning some popular posts while I prepare for today’s live video webinar: Drug Channel Implications of the Inflation Reduction Act. One important update: In the article below, I suggested that the IRA will make high-list/high-rebate products less attractive to Medicare plans. But this appears not be accurate, as I explain in Surprise! […]
3 min read
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  1. Channel: Mass
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  3. Department: Consumer Durables
  4. Department: Nonfood
  5. Media & Marketing
  6. Data & Insights
  7. Shopper & Customer
  8. Trends & External Forces
  9. Merchandising
  10. Operations & Supply Chain

Target’s April 2024 Circle Sale was its largest by sales lift

Track General Merchandise spending free Access chart in Dash. Target’s April Circle Sale generated 7% more sales than the weekly average in the previous 4 weeks according to Earnest credit card data. This represents a 2 point acceleration in the Circle Sale’s contribution to Target’s topline compared to Target’s October sale. Target Circle is a […]
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  1. Department: Consumer Durables
  2. Media & Marketing
  3. Data & Insights
  4. Shopper & Customer
  5. Trends & External Forces
  6. Stores & Formats

TikTok Shop customers spend more at lower ticket apparel retailers

Download full TikTok Shop report Access TikTok and Panel data in Dash. TikTok Shop customers spent 26% of their apparel wallet on Off-Price Department Stores and 11% on Fast Fashion in the 12-months ended February 2024, compared to 24% and 7% for the average shopper. Conversely, TikTok Shop users spent less than their peers at […]
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  1. Trends & External Forces
  2. Corporate Finance
  3. Corporate Purpose
  4. ESG
  5. Media & Marketing
  6. Data & Insights
  7. Technology & Innovation
  8. Trends & External Forces
  9. Associates & Employees

Where Does One U.S. Tax Dollar Go?

See this visualization first on the Voronoi app. Where Does One U.S. Tax Dollar Go? This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources. Come tax season, a common refrain is: “what do my taxes even […]
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