According to the National Retail Federation (NRF), rise in consumer spending in the US remained muted in February.
Seasonally adjusted retail sales – excluding automobiles, gasoline stations and restaurants – increased only 0.1% from January. That is the same figure as January’s increase over December, which was originally reported at 0.6 percent but later revised.
“While spending moderately, consumers are navigating through the heavy fog of market turbulence experienced earlier this year,” believes Jack Kleinhenz, NRF chief economist. “Looking at the bottom line, consumer spending is on track to rise, which is good news for the economy.”
However, seasonally adjusted February sales were up 3.8% from February 2015. Year-over-year, February showed a boost in home-related sectors, with increases seen in sales of building materials and supplies, furniture and home furnishings. Sporting goods showed positive gains too, along with online and other non-store sales. The mild weather in many parts of the country continued to drive interest in spring clothing.
Further, NRF expects a 3.1% growth in retail sales this year.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Union Coop, a consumer cooperative in the UAE, revealed that 78% of
Union Coop has opened its 23rd branch within the UAE in Jumeirah
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
The Ministry of Human Resources and Social Development in Saudi Arabia has
Extravagant, conceptual, great food and views are some of the ways that
Abu Dhabi’s state investment company ADQ is in talks to invest about $500 million
The once powerful department stores that anchored malls and streets around the
Who isn’t a sucker for discounts? Customers today are spoiled for choice
The various e-commerce and virtual retail stores that cater to different product
A private helicopter carrying the chairman and managing director of Lulu Group,
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to
Gone are the days of traditional brick-and-mortar as well as purely e-commerce
The Dubai Gold & Jewellery Group’s ongoing jewellery campaign, held in association