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Affluent Consumers Plan Fewer Gifts And More Travel, Cutting Into Retail Holiday Sales 2022

Throughout the critical holiday season of November and December, the National Retail Federation predicts retail takings will total between $942.6 to $960.4 billion, a 6% to 8% increase over last year. This estimate excludes spending at automobile dealers, gasoline stations and restaurants. The macro estimate includes all retail expenditures for gifts and other holiday-related purchases, […]

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What Amazon Prime Day And Other ‘Christmas in July’ Events Predict For Holiday 2022

Amazon Prime Day event, held July 12 and 13, broke records to become the biggest event in company history. However, the company didn’t provide a final sales tally, and we likely won’t get the results until next quarter. As it is, news from the retail giant wasn’t so good in the second quarter, with revenue […]

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Neiman Marcus’ Transformation Continues, But One Tradition Carries On: Its Christmas Book

Since joining Neiman Marcus Group as chief executive officer in 2018, Geoffroy van Raemdonck has been spearheading a transformation plan for the company that includes luxury legacy retailers Neiman Marcus and Bergdorf Goodman. Unable to realize his vision weighted down by nearly $6 billion in debt, Neiman Marcus filed for bankruptcy in May 2020, not […]

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Shoppers Didn’t Live Up to Expectations over Thanksgiving Weekend

Over the five-day Thanksgiving weekend including Cyber Monday, consumers didn’t turn out as expected or spend as much. If this weekend – the traditional kickoff for the holiday shopping splurge – is the measure, then it was a dud.   The number of shoppers in-store and online dropped by some 5.2% from 2019 pre-pandemic high, […]

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Strong Holiday Retail 2021 Forecasts Are in Reach, But Next Year Is Another Question

The National Retail Federation (NRF) is out with its holiday 2021 forecast and it’s a doozy. November and December retail sales are predicted to grow between 8.5% to 10.5% over 2020, excluding automobile dealers, gas stations and restaurants. This comes on the heels of last year’s spectacular increase of 8.2% after consumers threw off the […]

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