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| Retail Sales, Annual Forecast, Forecasts, Economy
Retail sales kept up a long streak of year-over-year gains in October even though the rate of growth continued to slow, NRF Chief Economist Jack Kleinhenz said in response to the U.S. Census Bureau’s release of monthly retail sales data.
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The National Retail Federation released its Principles for the Use of Artificial Intelligence in the Retail Sector to support the industry’s artificial intelligence (AI) governance and strategic planning. Developed through its Center for Digital Risk & Innovation, the principles encourage appropriate and effective governance of AI, promote consumer trust, and facilitate ongoing innovation and beneficial use of AI technologies.
| Retail Sales, Economy
NRF and CNBC announced the launch of their new monthly “CNBC/NRF Retail Monitor,” powered by Affinity Solutions, and the release of October 2023 retail sales data. The CNBC/NRF Retail Monitor uses actual, real-time debit and credit card purchase data to provide more accurate and timely insights into retail sales activity across all U.S. sectors, categories and markets.
| Port Tracker, Supply Chain, Holiday Forecast, Winter Holidays, Holidays & Seasonal, Economy
With most imported holiday season merchandise already here, inbound cargo volume at the nation’s major container ports is expected to slow during the remainder of 2023, according to the Global Port Tracker report released by NRF and Hackett Associates.
| Economic Review, Holiday Forecast, Winter Holidays, Holidays & Seasonal, Forecasts, Retail Sales
Every retail holiday season since the pandemic has been unique, and that will be the case again this year, NRF Chief Economist Jack Kleinhenz said today.
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The NRF Foundation today announced the five undergraduate finalists of the NRF Foundation Next Generation Scholarship presented by SAS — the organization’s premier scholarship competition. First created in 2014, the scholarship is for students of various and diverse academic backgrounds who have demonstrated leadership skills, previous retail experience and a passion for making an impact in the retail industry.
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Basketball legend and entrepreneur Earvin “Magic” Johnson will share insights on his storied NBA Hall of Fame career and his success in business, entrepreneurship and philanthropy at NRF 2024: Retail’s Big Show in January
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The National Retail Federation today forecast that holiday spending is expected to reach record levels during November and December and will grow between 3% and 4% over 2022 to between $957.3 billion and $966.6 billion.
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The National Retail Federation today issued the following statement from Senior Vice President of Government Relations David French after the National Labor Relations Board issued its new rules concerning the joint employer standard under the National Labor Relations Act (NLRA).
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The National Retail Federation said a Federal Reserve proposal released today to lower the cap on debit card “swipe” fees is a welcome move but still leaves the fees significantly higher than banks’ cost to process the transactions.