×
58 794
Fashion Jobs
ADIDAS
Buying Manager, Brick And Mortar - Badge of Sport - Apparel/Hype
Permanent · Portland
ADIDAS
Senior Manager DPC Operations
Permanent · Portland
ADIDAS
Senior Analyst, Business Process Management
Permanent · Portland
ADIDAS
Manager Business Analyst
Permanent · Carlsbad
ADIDAS
Senior Finance Analyst fp&a
Permanent · Portland
ADIDAS
Manager Visual Direction
Permanent · Portland
ADIDAS
Senior Manager Product Supply Interface
Permanent · Portland
ADIDAS
Technical Manager Footwear Yeezy
Permanent · Los Angeles
ADIDAS
Manager, Wholesale Digital Activation
Permanent · Portland
ADIDAS
Senior Finance Analyst - Ctc
Permanent · Portland
ADIDAS
Manager Training dc Operations
Permanent · Spartanburg
ADIDAS
Operations Manager Inbound- Weekend Shift (Fri-Sun 7am-7:30pm)
Permanent · Spartanburg
NEIMAN MARCUS
Chanel, Sales Business Manager - Tampa Bay
Permanent · Tampa
NEIMAN MARCUS
sr. General Manager - Restaurants
Permanent · Atlanta
NEIMAN MARCUS
Analyst, Core Replenishment - Jewelry
Permanent · Dallas
MACY'S
Asset Protection Captain, Fresno Fashion Fair - Full Time
Permanent · Fresno
MACY'S
Asset Protection Detective, Culver City Center - Standard Part Time
Permanent · Culver City
MACY'S
Asset Protection Security Guard, Brea - Flex
Permanent · Brea
MACY'S
Asset Protection Detective, Dayton Mall - Full Time
Permanent · Dayton
MACY'S
Asset Protection Detective, Cross County - Full Time
Permanent · Yonkers
MACY'S
Asset Protection Detective, Streets of South Point - Full Time
Permanent · Durham
LULULEMON
Assistant Manager, Operations | The Mall at Short Hills
Permanent · Millburn
Published
Nov 5, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Retail sales strong going into holidays

Published
Nov 5, 2020

According to a recent report from the National Retail Federation (NRF), U.S. retail sales have largely recovered from the impact of the Covid-19 pandemic, a promising sign for the holiday shopping season.


Increases in Covid-19 cases continue to represent a threat to retail recovery - Photo: Shutterstock

 
NRF highlighted that retail sales have been increasing both month-over-month and year-over-year since June and have completed a V-shaped recovery. Since January, retail sales have increased 8.6% according to data from Harvard University’s Opportunity Insights research project, cited by NRF.
 
“Strong growth in retail sales during the last few months points to the resiliency of consumers even in this disruptive pandemic environment,” said NRF’s chief economist, Jack Kleinhenz, in a release. “Taking in all the evidence available, the U.S. economic recovery has progressed more quickly than generally expected.”

An increase in personal disposable income, which was up 5.4% year-over-year as of August, was highlighted as one of the reasons behind this consumer resiliency. On top of this, the current savings rate of 14.4% has remained in double digits for six straight months.
 
According to NRF, consumer confidence is rising, although it is still below pre-Covid-19 levels.
 
Spending on retail goods has been an important part of the recovery of overall consumer spending, which was down 16.1% year-over-year in April, but only 1.9% as of August.
 
Nonetheless, NRF pointed out the growing number of coronavirus cases in the U.S. as a continued threat to a successful retail recovery. Kleinhenz also emphasized that additional federal stimulus may be necessary.
 
“While there might be sufficient momentum and resiliency to propel the economy in the months ahead, additional fiscal policy support is critical to ensure that the recovery doesn’t stall,” he explained.
 
NRF has not yet released its annual holiday spending forecast, as it is waiting for additional economic data. However, the organization recently published a study in collaboration with Prosper Insights & Analytics, which revealed that consumers plan to spend an average of $997.79 this holiday season, representing a decrease of around $50 from last year.
 

Copyright © 2022 FashionNetwork.com All rights reserved.