Tag: retailers

Retailers Brace for Slow Holiday Season as Inflation Bites

Admin

Consumers are expected to cut back on discretionary spending this holiday season, hurting retailers, amid persistent inflation and declining savings, according to The Wall Street Journal.

The National Retail Federation anticipates consumer spending to rise around 3% to 4% in November and December, not including inflation, compared to a 5.4% increase that was observed in 2022 and a 5.4% gain in 2021 during the same time frame, according to the WSJ. In an effort to increase sales, many retailers are giving deeper discounts to lure consumers who may be apprehensive about buying products they don’t need, looking to boost their sales on Black Friday, Cyber Monday and the last two weeks of December, when holiday deals typically occur.

Read the full story

Retailers Lost Billions of Dollars to Shoplifters in 2022, Survey Shows

Admin

Retailers lost more than $112 billion to crime in 2022, a roughly 19% increase in losses from 2021, a survey from the National Retail Federation (NRF) and the Loss Prevention Research Council found.

At least 28% of businesses who responded to the survey reported that they had closed locations because of organized retail theft, while 30% reduced or altered their in-store product selections. Out of the 177 retail brands surveyed, 88% said that shoplifters had become somewhat more or much more violent in 2022 compared to the previous year.

Read the full story

Pennsylvania Lawmaker Proposes Bill Letting Small Businesses Operate During Emergencies

Bradley Vasoli

State Representative Brad Roae (R-PA-Meadville) this week proposed legislation to permit small businesses to continue operating during potential future states of emergency in Pennsylvania. 

His bill, a version of a measure he sponsored in 2020, would permit small businesses to serve one customer at a time during such periods. The earlier legislation passed the House with nearly all Republicans and some Democrats in support but the Senate did not vote on it. 

Read the full story

Newtown-Based Firearms Trade Association Spends More Lobbying Congress than NRA

The Center Square

One Connecticut-based firearms industry trade group has spent more on lobbying than the National Rifle Association.

The National Shooting Sports Foundation, an industry trade association based in Newtown, has spent 40% more than the NRA lobbying Congress since 2019. For 2021 alone, OpenSecrets – a nonpartisan nonprofit tracking money into politics – reports an estimated $5 million spent by NSSF on lobbying; the NRA spent $4.92 million.

Read the full story

Retail Sales Beat Expectations Amid Surging Inflation

Admin
Woman shopping in a department store

U.S. retail sales increased in September, beating expectations amid growing inflation and supply chain disruptions, the U.S. Census Bureau reported Friday.

Retail sales increased 0.7% in September, beating experts’ estimates of 0.2%, according to the Census Bureau report.  The number rose 0.8%, excluding auto sales, beating the 0.5% forecast.

Sales were up 13.9% compared to September 2020, and they increased 15.6% compared to September 2020, excluding auto sales, according to the Census Bureau.

Read the full story