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| Consumer Trends, Retail Sales
Consumers are expected to return more than $816 billion worth of retail merchandise purchased in 2022, according to a report by the National Retail Federation and Appriss Retail. As retail sales continue to grow, the average rate of return has remained flat at 16.5% compared with 16.6% in 2021.
| Data Security
EuroCommerce and NRF welcomed the European Commission’s preliminary decision that an EU-U.S. agreement on transatlantic data transfers provides adequate protections for European citizens required under EU law, and said they would provide further analysis ahead of final approval of the adequacy decision in 2023.
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More than 158 million consumers are expected to shop on the last Saturday before the Christmas weekend this year, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. This figure is approximately 10 million more than last year’s expected number of Super Saturday shoppers and the highest number since NRF first started tracking this data in 2016.
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The National Retail Federation today announced that Lowe's Chairman and CEO Marvin Ellison will receive The Visionary award. Ellison will be recognized during the eighth annual NRF Foundation Honors on Jan. 15 in New York City.
| Port Tracker, Supply Chain, Economy, Winter Holidays
With most holiday merchandise already on retailers’ shelves or in their warehouses, December cargo volume at the nation’s major container ports should be significantly below records set earlier this year, according to the monthly Global Port Tracker report from NRF and Hackett Associates.
| Trade
The National Retail Federation today issued the following statement from President and CEO Matthew Shay following the U.S. Senate’s passage of H.J. Res. 100, sending the Tentative Agreement to President Biden’s desk for final signature. The resolution was approved yesterday in the House.
| Economic Review, Retail Sales, Winter Holidays, Holiday Forecast, Economy
NRF Chief Economist Jack Kleinhenz says GDP isn’t likely to grow as much in the final months of 2022 as it did in the third quarter, but consumer spending should remain strong even though its rapid pace is continuing to slow.
| Trade
The National Retail Federation today issued the following statement from President and CEO Matthew Shay following the U.S. House’s vote to approve H.J. Res. 100. The resolution, which now heads to the Senate, will implement the Tentative Agreement that was negotiated between the administration, the rail labor unions and the railroads.
| Consumer Trends, Holidays & Seasonal, Winter Holidays
A record 196.7 million Americans shopped in stores and online during the five-day holiday shopping period from Thanksgiving Day through Cyber Monday, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. The total number of shoppers grew by nearly 17 million from 2021 and is the highest figure since NRF first started tracking this data in 2017.
| Trade
The National Retail Federation today issued the following statement from President and CEO Matthew Shay following the White House’s call for immediate Congressional intervention to avoid a rail strike and subsequent shut down of the U.S. freight rail system. The directive comes as the cooling off period expires Dec. 8 and railroads begin to suspend operations ahead of a labor strike.