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Retail sales have largely recovered from the pandemic heading into the holiday season but the growing number of coronavirus cases remains a threat and additional federal stimulus could help keep the economy on track, according to NRF Chief Economist Jack Kleinhenz.

Joint statement from National Retail Federation, American Property Casualty Insurance Association, Business Roundtable, ITI, the National Association of Manufacturers, the National Association of Wholesaler-Distributors, the Retail Industry Leaders Association and the U.S. Chamber of Commerce.

As the coronavirus pandemic extends into the winter holiday season, consumers are looking to purchase gifts that bring joy to counter its effects. In total consumers plan to spend $997.79 on gifts, holiday items such as decorations and food, and additional "non-gift" purchases for themselves and their families, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.

How to legally transfer customer and employee data across the Atlantic now that the EU-U.S. Privacy Shield has been invalidated by the European Union’s highest court was a key issue of discussion as EuroCommerce and the National Retail Federation held their latest Retailer Exchange Meeting.

A strong rebound in apparel led a continuing V-shaped recovery from the pandemic as retail sales accelerated their rate of growth in September and marked the fourth straight month of year-over-year gains, NRF said.

The NRF Foundation today launched two new credentials in its RISE Up program in response to the coronavirus pandemic. The credentials focus on Retail Operations and Customer Conflict Prevention to further ensure retail workers — and the millions of customers they serve — can work and shop more safely and help keep the economy open.

Imports reached an all-time high this summer as retail sales bounced back from the pandemic and merchants replenished inventories and stocked up early for the holiday season, according to the monthly Global Port Tracker report from NRF and Hackett Associates.

NRF expressed concern over President Trump’s decision to stop negotiating with congressional leaders on new legislation intended to help the economy recover from the impact of the coronavirus pandemic.

NRF welcomed legislation that would establish standards clarifying what is required to make websites and mobile apps accessible to the visually impaired under the Americans with Disabilities Act.

Consumer spending has recovered from the coronavirus pandemic more quickly than expected, but forecasting 2020 holiday sales is like assembling a jigsaw puzzle without all the pieces, NRF Chief Economist Jack Kleinhenz says.