Archive
Top 10 back-to-school trends for 2012
Top 10 back-to-school trends for 2012
Source: National Retail Federation
The tardy bell will be ringing sooner than we know it. Parents, kids and retailers have one thing on their minds: back-to-school shopping. According to the National Retail Federation, combined K-12 and college spending will reach a record $83.8 billion. That’s quite a few colored pencils and new backpacks.
See also: NRF Back to School Headquarters
NRF Report Finds No Retailer Immune To Organized Retail Crime
NRF Report Finds No Retailer Immune To Organized Retail Crime
Source: National Retail Federation
Growing in severity, number and type, retailers are reporting organized retail crime (ORC) has become more troublesome than ever before. Of the 125 retail companies surveyed for NRF’s eighth annual Organized Retail Crime Survey, a record-setting (96.0%) say their company has been the victim of organized retail crime in the past year, up from 94.5 percent last year, and another 87.7 percent say ORC activity in the United States has grown over the past three years.
“What this tells us is that as retailers and law enforcement become more aware of and more proactive in pursuing organized retail crime gangs, criminals have become more desperate and brazen in their efforts, stopping at nothing to get their hands on large quantities of merchandise,” said NRF Vice President of Loss Prevention, Rich Mellor. “Selling this stolen merchandise is a growing criminal enterprise and retailers must remain vigilant as this is an issue that involves everyone’s cooperation when it comes to protecting retailer’s assets, including their valued store associates and customers.”
The silver lining: more companies this year believe law enforcement is aware of and understands the severity and complexity of the issue (40.0% vs. 32.3% in 2011). More than half (54.4%) say top management at their company is aware of the problems associated with organized retail crime.
Gas Prices No Match When it Comes to Mom, According to NRF Survey
Gas Prices No Match When it Comes to Mom, According to NRF Survey
Source: National Retail Federation
Riding the coattails of a spring where they spent freely on everything from garden supplies and home décor to colorful fashions, consumers will stretch their dollars a little further this Mother’s Day to make sure mom has the perfect day. According to NRF’s 2012 Mother’s Day consumer spending survey conducted by BIGinsight, the average person celebrating the holiday is expected to spend $152.52 on gifts, up from $140.73 last year. Total spending is expected to reach $18.6 billion.
…
According to the survey, consumers will spoil mom with special meals and/or outings, clothing, electronics, flowers and more. Two-thirds (66.4%) will buy flowers, spending a total of $2.2 billion, and nearly one-third (32.8%) will treat mom to a new blouse or sweater, spending $1.6 billion on clothing and accessories. Those buying electronics (12.7%) will shell out a total of $1.6 billion on tablets, digital cameras and more, and over half (54.3%) of all celebrants will treat mom to a nice dinner or brunch, spending $3.4 billion. Additionally, consumers will shell out $1.8 billion on gift cards and $1.3 billion on personal services such as a trip to a day spa.When it comes to where people will shop, the survey found nearly two-thirds (35.6%) of gift buyers will shop at a department store, the most in the survey’s history. Adults ages 18-24 also prefer to shop at department stores where more than half (55.7%) will look for the perfect gift for mom. Other shoppers will head to discount stores (30.2%), specialty stores including jewelers, florists and electronics stores (36.3%) and specialty clothing stores (8.2%). One-quarter (25.6%) of shoppers will buy their gifts online, up from 21.5 percent last year.
+ Complete survey results (PDF)
Americans To Pull Out All The Stops This Valentine’s Day
Love may not cost a thing, but consumers this year are set to spoil their friends, family and loved ones this Valentine’s Day in a very big way. According to NRF’s 2012 Valentine’s Day Consumer Intentions and Actions survey, conducted by BIGinsight, the average person celebrating the holiday will shell out $126.03, up 8.5 percent over last year’s $116.21 and the highest in the survey’s 10-year history. Total spending is expected to reach $17.6 billion.
Record Number Of Americans To Celebrate Super Bowl This Year With Plans To Spend $11 Billion
Love them or loathe them, two football titans will fight it out on Super Bowl Sunday, and more Americans than ever will join them to celebrate the big game. According to a new survey by the Retail Advertising and Marketing Association conducted by BIGinsight, 173 million people will watch the game Sunday, February 5, the most in the survey’s eight-year history and up from an estimated 171 million last year. Consumer spending for the Super Bowl will reach an all-time high, too, with the average game-watcher expected to shell out $63.87 on related merchandise, apparel and snacks, up from $59.33 last year. Total Super Bowl spending is expected to reach $11.0 billion.
+ Full Survey Results (PDF)
NRF Forecasts Holiday Sales Increase Of 2.8 Percent To $465.6 Billion
NRF Forecasts Holiday Sales Increase Of 2.8 Percent To $465.6 Billion
Source: National Retail Federation
The 2011 holiday season can be summed up in one word: average. On the heels of a holiday season that outperformed most analysts’ expectations, holiday retail sales* for 2011 are expected to increase 2.8 percent to $465.6 billion, according to the National Retail Federation. While that growth is far lower than the 5.2 percent increase retailers experienced last year, it is slightly higher than the ten-year average holiday sales increase of 2.6 percent.
“Retailers are optimistic that a combination of strong promotions and lean inventory levels will help them address consumer caution this holiday season,” said NRF President and CEO Matthew Shay. “While businesses remain concerned over the viability of the economic recovery, there is no doubt that the retail industry is in a better position this year to handle consumer uncertainty than it was in 2008 and 2009.”
Back-to-School Shoppers Do Their Homework in an Attempt to Outsmart Inflation According to New Deloitte Survey
Back-to-School Shoppers Do Their Homework in an Attempt to Outsmart Inflation According to New Deloitte Survey
Source: Deloitte
Despite a volatile economy and rising costs for everyday necessities, consumers plan to keep their back-to-school spending intact by turning to savvy shopping tactics, smartphones and social networks, according to a new Deloitte survey.
While 86 percent of households surveyed expect to spend the same or more on back-to-school items this year, inflation-related concerns could cause them to change their shopping plans. Seven out of 10 respondents cite higher food prices (72 percent) and higher energy prices (70 percent) as reasons they may scale back spending this season, followed by roughly half (51 percent) who point to the lack of improvement in the job market.
The study also indicates consumers will be vigilant about the cost of the items they plan to purchase. Three out of 10 (29 percent) consumers believe prices on new back-to-school merchandise are higher than a year ago and nearly two-thirds (65 percent) say low prices are the most important retailer attribute for back-to-school shopping.
+ Full Document (PDF)
See also 2001 Back-to-School Headquarters (National Retail Federation)
Back-To-School Sales Expected To Be Flat As Parents Practice Restraint, According To NRF
Back-To-School Sales Expected To Be Flat As Parents Practice Restraint, According To NRF
Source: National Retail Federation
As they prepare for their annual back-to-school shopping trip, parents this year will make children scour their closets before agreeing to buy any new jeans, pencils or backpacks. According to NRF’s 2011 Back-to-School survey conducted by BIGresearch, families with children in grades K-12 will spend an average of $603.63 on apparel, school supplies and electronics, within a few dollars of last year’s $606.40 average. Total spending on grades K-12 is expected to reach $22.8 billion.*
Combined K-12 and college spending will reach $68.8 billion**, serving as the second biggest consumer spending event for retailers behind the winter holidays.
“Families aren’t opposed to spending on what they need, but parents want their children to take a good look around at what they already have before deciding what to buy for back to school this year,” said NRF President and CEO Matthew Shay. “Retailers understand consumers are extremely focused on value and are taking this opportunity to offer substantial savings on merchandise.”
Organized Criminals Becoming More Violent, Endangering Safety of Retail Associates, According to NRF Survey
Organized Criminals Becoming More Violent, Endangering Safety of Retail Associates, According to NRF Survey
Source: National Retail Federation
Organized retail crime isn’t only costly for businesses, it’s dangerous, and the problem extends far beyond stores, according to NRF’s seventh annual Organized Retail Crime survey. Of the 129 retail companies surveyed this year, nearly all (94.5%) have been the victim of organized retail crime in the past 12 months, an increase over last year and the most in the survey’s history. An increasing number of retailers said thieves are becoming more brazen and that, on average more than one in 10 organized retail crime apprehensions (13%) lead to some level of violence, such as physical assault and/or battery.*
“Organized retail crime affects virtually every single retailer in America, impacting everything from the bottom line to the safety of people in the stores,” said NRF senior asset protection advisor Joe LaRocca. “As criminals become more brazen, retailers are working fervently to cut down on organized retail crime activity in order to ensure the safety of their associates and shoppers.”
Not only are criminals becoming more violent, members of these crime rings are often engaged in other illegal activities. According to the survey, retailers estimate that 41 percent of apprehended offenders are involved in “gateway” crimes including drugs, weapons and gang activity. Additionally, retailers report that, on average, 12 percent of their organized retail crime cases involve collusion between internal and external actors, shedding light on the substantial role a handful of corrupt employees can play in organized retail crime.
In addition to the increase in the number of retailers who have been victimized, the level of organized retail crime activity has continued to increase. According to the survey, 84.8 percent of retailers believe organized retail crime activity has increased within the last three years.
As the economy forces retail executives to pay close attention to every line item in their budgets, loss prevention executives say senior leadership is more likely to understand how organized retail crime impacts the company’s bottom line. Over half of survey respondents (58.3%) believe their top management understands organized retail crime, a 16 percent increase over last year. As a result, many companies are allocating additional resources – including more personnel and greater investment in technology – to combat the problem.
+ Full Report (PDF)
Americans Plan to Spend a Little, Save a Little With Tax Refunds This Year, According to NRF Survey
Americans Plan to Spend a Little, Save a Little With Tax Refunds This Year, According to NRF Survey
Source: National Retail Federation
With signs of an improving economy, many Americans are now keen to use their tax refunds to treat themselves or their families to a major purchase such as a new television or furniture. According to NRF’s 2011 Tax Returns Consumer Intentions and Actions Survey, conducted by BIGresearch, 13.2 percent of Americans will spend their refund on a big ticket item, up from 12.5 percent last year.
But with the economy also serving as a reminder that it’s best to be financially prepared for the worst, more people will also put their refunds away for a rainy day (42.1% vs. 40.3 percent in 2010).
While some will toss frugality out the window, there are still 41.9 percent of consumers who plan to pay down debt. Other ways consumers will use their refunds include vacation (11.9%), and everyday expenses (29.7%). Unsurprisingly, the number of people who file their taxes online continues to increase. This year, 57.6 percent of U.S. taxpayers will file their taxes online, up from just 50.1 percent in 2007.
Additionally, 35.2 percent will prepare their taxes using computer software, 21.5 percent will use an accountant, 19.3 percent will use a tax preparation service, 10.9 percent will have a friend, spouse or other relative prepare their taxes for them and 13.2 percent will prepare their taxes by hand.
+ Survey results (PDF)
