Media Center

American consumers could lose $31 billion in spending power if U.S. tariffs are raised on common household products like microwaves and T-shirts imported from China, according to a new report released today by the National Retail Federation.

Import cargo volume at the nation’s major container ports has already hit its expected peak for the year and should gradually slow headed into the holiday season, according to the Global Port Tracker report from NRF and Hackett Associates.

The U.S. economy is continuing to grow even as labor disputes across the country and uncertainty created by Congress add to the ongoing challenges of inflation and high interest rates, NRF Chief Economist Jack Kleinhenz said.

NRF welcomed the U.S. Supreme Court’s agreement to take up a lawsuit seeking to have the Federal Reserve lower its 12-year-old cap on “swipe” fees banks charge merchants to process debit card transactions. The justices accepted the case after appellate courts disagreed on whether the 2021 case was brought too late.

As incidents of retail crime continue to escalate throughout the country, retailers have seen a dramatic jump in financial losses associated with theft. When taken as a percentage of total retail sales in 2022, shrink accounted for $112.1 billion in losses, up from $93.9 billion* in 2021, according to the 2023 National Retail Security Survey released today by the National Retail Federation.

The NRF Foundation today announced the six honorees of The List of People Shaping Retail’s Future 2024, a robust group of retail leaders who will be celebrated at the NRF Foundation Honors in New York City in January.

According to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics, total Halloween spending is expected to reach a record $12.2 billion, exceeding last year’s record of $10.6 billion. A record number of people (73%) will participate in Halloween-related activities this year, up from 69% in 2022.

NRF announced that DICK’S Sporting Goods Executive Chairman Ed Stack will receive The Visionary award. Stack will be recognized during the ninth annual NRF Foundation Honors on Jan. 14 in New York City.

Less than one-quarter (21%) of consumers believe that credit card companies are honest and trustworthy when they advocate before Congress on the fees they charge retailers to accept their cards, according to a survey released today by the National Retail Federation.

Retail sales rose in August as parents shopped for school supplies and other goods even as inflation continued and interest rates remained high, NRF said.