Forbes | January 17, 2023 Retail executives from around the world came to the National Retail Federation’s convention at New York’s Javits Center in the mood to invest in technology, after learning during the pandemic that the retailers with the best tech were the winners. The three-day show drew more than 35,000 attendees this year, more than double the number that participated last year. Retailers typically start the year optimistic, focusing on the sales they can make this
NRF | December 10, 2021 Consumers will spend the last few weeks of the holiday season stocking up on gifts and taking advantage of holiday sales and promotions to splurge on extra items for themselves and their families. However, some of those gifts and other purchases will inevitably end up as returns. In fact, last year, retailers estimated that 13.3 percent of their 2020 holiday sales would come back as returns, adding up to over $100 billion in returned merchandise. Myth
WWD | November 9, 2021 U.S. consumers shop earlier than ever for holiday gifts and spend more on toys, groceries, video games and gift cards, according to Adobe Analytics, which reported $72.4 billion was spent online in October, an 8 percent increase from October 2020. Toys were up 50% in October versus September 2021; groceries rose 34%, and sales of video games rose 20% from the Adobe report. From January 2021 to October 2021, $680 billion has been spent online, a 9% incre
New York Times | September 16, 2021 August retail sales increased slightly highlighting an uneven pace for economic recovery. The 0.7% climb in sales, reported by the Commerce Department came after a 1.8% decline in July and gains earlier this summer. Increased spending on clothing, electronics, furniture and home goods helped the upward tick last month. In preparation of back to school, sales of sporting goods and musical instruments and sales at book stores rose. Spending f
National Retail Federation | July 28, 2021 In 2020, apparel was not what consumers where shopping. Spending time accommodating work or school set ups, consumers needed furniture and that's what they shopped for. NRF publishes its Top 100 Retailers list and here's the glimpse we've been waiting for. Beyond Wayfair, which topped the list of sales increases in 2021, Williams-Sonoma Inc. had an up year, increasing by 16.3 percent. Although a trending category, given the reliance
Forbes | August 18, 2020 Walmart U.S. comparable sales grew by 9.3% and Walmart U.S. e-commerce grew 97%. Those two headline news items blew me away. Management explained that much of the special purchases were for home as people build up their home office and adjusted to the coronavirus COVID-19 pandemic by working from home. Total revenues increased to $137.7 Billion from $130.4 Billion. This is a 5.6% increase. Consolidated income was $6.4 Billion compared to $3.6 Billion
Star Tribune | July 21, 2020 Best Buy will permanently raise its minimum wage to $15 an hour for U.S. workers, following other retailers such as Target. The Richfield-based electronics chain also said Tuesday its sales are up 15% since stores opened in mid-June to July 18, compared with the same period a year ago. The new pay for domestic hourly employees will take effect Aug. 2, a day after temporary incentive pay increases for retail associates and supply chain employees wh
The Motley Fool | July 15, 2020 Late last year, before the coronavirus contagion became the one thing that mattered the most, struggling retailer Bed Bath & Beyond began putting some much-needed change in place. Namely, it hired former Target merchandising executive Mark Tritton as its new CEO in October, who in December sent the vast majority of his executive management team packing. The sweeping move solidified the idea that he was going to try and recreate his success at T
National Retail Federation | May 7, 2020 "With more time at home and boredom setting in, toy sales are up. Data from the National Retail Federation’s weekly consumer poll for April 22 showed that 59 percent of consumers are purchasing toys — up from 42 percent in March. That aligns with research from ad sales intelligence business MediaRadar, which found that toy and game companies were spending 2.5 times more on advertising. In March, toy and game companies spent $7.1 mill
CBS | April 28, 2020 “Clearly, as people spent more time at home and were getting advice to avoid being out in public, we started seeing digital sales soar,” Brian Cornell said. “In March, they grew over 100%, but in April, growing over 275%.” Cornell says it’s part of changes that consumers are making right now as they combat the virus and focus on their own health and safety.As far as safety of Target’s employees during the pandemic, Cornell says the company has made big in
Retail Dive | April 27, 2020 Initially, shopping was all about panic. Consumers were used to stocking up for snowstorms and hurricanes where stores physically could not open and applied that logic to the COVID-19 stay-in-place orders, stockpiling essential goods such as toilet paper and hand sanitizer.
However, when it became clear that would not be the case, habits began to shift from hoarding essentials to buying things to make life easier and more livable. According to
CNBC | April 23, 2020 In an interview with CNBC’s “Squawk Box,” Target's CEO Brian Cornell said Target’s investments in online shopping options and its workforce will lead to “market share gains that I think will benefit the brand for years to come.” Since its fiscal first quarter began Feb. 2, Target’s same-store sales have risen more than 7%, the retailer said. The gain, which compares with an increase of 1.5% in the fiscal fourth quarter, is the result of a doubling of i
Retail Dive | April 21, 2020 On March 12 — the day after President Donald Trump addressed the nation from the Oval Office about COVID-19 — foot traffic at Petco and PetSmart was up 8% and 6% respectively, according to analytics firm Placer.ai. And between March 12 and March 18, sales at Chewy — which PetSmart acquired in 2017 — were up 42.5%, at Petco up 41.8%, at PetSmart up 36%, at PetValu up 42.4% and at Pet Supplies Plus up 76.4%, according to data provided by Earnest Res
Seeking Alpha | April 15, 2020 Best Buy Co., Inc. today announced business updates related to the novel coronavirus (COVID-19). The following are key points made in the press release. Best Buy (NYSE:BBY) says it has retained ~70% of its sales compared to last year since moving to an enhanced curbside service model with stores closed. Domestic online sales are up over 250% and approximately 50% of these sales are from customers choosing to pick up their products at BBY stores.
Retail Dive | January 31, 2020 Amazon reported that fourth quarter net product sales rose year over year to $50.5 billion from $44.7 billion. For the full year, net product sales rose to $160.4 billion from $141.9 billion in 2018. Net online store sales in the quarter rose 15% year over year to $45.7 billion from $39.8 billion a year ago, as physical store net sales fell 1% to $4.36 billion, according to a company press release. Third-party seller services rose more than 30%