Retail Trade Group: Holiday Sales Could Set New Record
The National Retail Federation, the nation’s largest retail trade group, expects that holiday sales gain could shatter last year’s record-breaking season even as a snarled global supply chain slows the flow of goods and results in higher prices for a broad range of items. The trade group said Wednesday that it predicts that sales for the November and December period will grow between 8.5% and 10.5% to $843.4 billion and $859 billion. Holiday sales increased 8.2% in 2020 compared with the previous year when shoppers, locked down during the early part of the pandemic, splurged on pajamas and home goods, mostly online. The group expects that online and other non-store sales, which are included in the total, will increase between 11% and 15% to a total of between $218.3 billion and $226.2 billion driven by online purchases. Read more at AP.
I’m interested to learn how MR Magazine’s distribution breaks down. Is it pretty much a reflection of the entire universe of menswear and men’s shoes, all levels from Dollar General to Prada. and to anyone that buys wholesale merchandise for all niches of selling, from warehouses to internet companies to department stores to independents? NRF encapsulates all retail sales. It’s so all encompassing that it has virtually no meaning to me. The increases could all be from on-line sales, or from independent stores reclaiming lost ground last year. When I read articles like this, it does occur to me that Amazon buyers are also reading it. Is that correct?