The National Retail Federation on Tuesday said it expects retail sales in the U.S. to grow as much as 8% in 2022, with the national retail body adding that consumers are ready to spend and have the resources to do so.
The National Retail Federation on Friday announced Walmart U.S. president and CEO John Furner has been elected chairman of the NRF board of directors, succeeding Qurate Retail Inc. president and CEO, Mike George.
U.S. holiday sales in 2021 came in at a better-than-expected $886.7 billion, boosted by customers returning to stores and splurging more online, even as a jump in Covid-19 cases and supply chain issues loomed.
The Covid-19 omicron variant is unlikely to cause widespread retail shutdowns or slowdowns, according to the NRF, as 2022 looks to be “another very challenging year of substantial uncertainty," for retailers in the U.S.
U.S. shoppers headed to stores over the Thanksgiving weekend fell 3.5%, the NRF said on Tuesday, as fewer holiday promotions and tight supplies took the shine off some of the biggest shopping days of the year.
U.S. retail sales unexpectedly increased in August, boosted by back-to-school shopping and government child tax credit payments, which could temper expectations for a slowdown in economic growth in the third quarter.
U.S. retail sales are expected to rise between 6.5% and 8.2% to more than $4.33 trillion in 2021 as more people get vaccinated and the economy reopens, the National Retail Federation (NRF) said on Wednesday.