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NRF welcomed open banking regulations issued today by the Consumer Financial Protection Bureau, saying the new rules could lead to an alternative to credit card “swipe fees” that cost merchants and their customers billions of dollars each year.

Consumer spending on the winter holidays is expected to reach a record $902 per person on average across gifts, food, decorations and other seasonal items, according to the National Retail Federation’s latest consumer survey conducted by Prosper Insights & Analytics.

Data released by the U.S. Census Bureau shows retail sales increased again in September as employment grew and inflation and interest rates fell, NRF Chief Economist Jack Kleinhenz said.

The National Retail Federation forecast that winter holiday spending is expected to grow between 2.5% and 3.5% over 2023. That equates to between $979.5 billion and $989 billion in total holiday spending in November and December, compared with $955.6 billion during the same timeframe last year.  

NRF statement on the passing of Tom Donohue.

Retail sales saw a slight month-over-month drop in September but consumers continued to spend more than last year as interest rates and inflation fell and employment rose, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released by NRF.

The National Retail Federation announced a new collaboration with The Power of Preparedness (TPOP). This collaboration aims to provide NRF’s network of retailers with enhanced safety and security training to help protect employees, customers and businesses in today’s increasingly complex retail risk environment.

Imports at the nation’s major container ports should continue at elevated levels this month despite a strike that briefly shut down operations from Maine to Texas last week, according to the Global Port Tracker report released by NRF and Hackett Associates.

NRF released the following statement from NRF President and CEO Matthew Shay following the announcement that a tentative agreement on wages and a short-term contract extension was reached between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX).

NRF released the following statement from NRF President and CEO Matthew Shay following concerns of a potential labor strike at U.S. ports on the East and Gulf Coasts. The International Longshoremen’s Association and the United States Maritime Alliance have until Sept. 30 to reach a new contract.