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NRF: Value-added tax will cost jobs

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The National Retail Federation says a value-added tax proposed to reduce the federal deficit could result in the loss of 850,000 jobs in the first yer, reduce gross domestic product for three years and bring a permanent drop in retail spending total $2.5 trillion during the first ten years. The doom and gloom from the… Continue Reading NRF: Value-added tax will cost jobs

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After a ho-hum 2009 and a disastrous 2008, holiday retail sales are expected to increase 2.3 percent this year to $447.1 billion, the National Retail Federation reports. While that growth remains slightly lower than the 10-year average holiday sales increase of 2.5 percent, it would be a marked improvement from both last year’s 0.4 percent… Continue Reading Holiday sales forecast looks bright for retailers

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Consumers continue cautious behavior

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Consumers continue to behave cautiously when it comes to spending – even on necessities – with more saying they’ve held out for promotions and discounts when shopping for school supplies. A National Retail Federation report indicated 17 percent of families with school-age children said 100 percent of their purchases were influenced by bargains and coupons,… Continue Reading Consumers continue cautious behavior

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Back to school spending is expected to reach $55.12 billion, making it the second biggest consumer spending event for retailers behind the winter holidays. Spending is expected to increase slightly from 2009 and 2008 levels, according to the National Retail Federation. But the economy still will play a role – more parents will buy more… Continue Reading Back to school spending to reach $55 billion

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Grads: fewer gifts, but more costly

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Fewer people will buy graduation gifts this year – but everyone who does will spend a little more. The National Retail Federation says gift givers  will buy for an average of two graduates this year, spending an average of $89.95 on gifts, up slightly from $88.01 last year. Total graduation spending is expected to reach… Continue Reading Grads: fewer gifts, but more costly

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Mother’s Day gives retailers a needed boost

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Consumers are planning to spend a little bit more on mom this year. Mother’s Day is the second largest consumer spending holiday – behind Christmas and Hanukah – and this year will be no exception. The average person will spend $126 to make mom feel special, up slightly from $123 last year. Total spending is… Continue Reading Mother’s Day gives retailers a needed boost

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Americans will spend tax refunds this year

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For the last two years, many Americans skipped family vacations, saved their tax refunds or used them to pay down debt. But this year, many Americans plan to cautiously start spending their tax refunds once again. The National Retail Federation’s  2010 Tax Returns Consumer Intentions and Actions Survey showed 43.9 percent of Americans who receive… Continue Reading Americans will spend tax refunds this year

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Couples to spend less for Valentine’s Day

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Couples plan to spend less on each other this Valentine’s Day, but more on family, friends, co-workers and even their pets. The National Retail Federation’s annual Valentine Day’s report, said that couples will spend $63.34 on gifts for each other, compared to $67.22 last year; but will shell out a total of $103 on traditional… Continue Reading Couples to spend less for Valentine’s Day

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NRF forecasts jump in retail sales

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Retailers could experience a reversal of fortune this year as The National Retail Federation expects U.S. retail sales to jump 2.5 percent during 2010. Economic improvement, including an improving housing market and declining unemployment, will bolster consumer confidence throughout the year according to the NRF’s bi-monthly Retail Sales Outlook. The news comes as a welcome… Continue Reading NRF forecasts jump in retail sales

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More than half a million retailers will get an early holiday gift this year. Checks totaling more than $1 billion will be mailed to more than 635,000 retailers as part of a federal judge’s approval of an early payout of money remaining from a 2003 settlement of a class action suit against Visa and MasterCard’s… Continue Reading Retailers receive early holiday gift from Visa, MasterCard

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