Market Buzz& Industry News
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Tight inventory and skimpier discounts will limit Cyber Monday sales11/29/2021
U.S. retailers are expected to generate fewer dollar sales for Cyber Monday than they did last year as limited inventory and less sharply discounted fail to move consumers. “We’ve seen the lowest holiday discount rates in recent history,” said Rob Garf, general manager of retail at Salesforce. “There won’t be more presents under the tree…
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Amazon exec says Black Friday was a record breaker11/29/2021
Dave Clark, CEO of Amazon Worldwide Consumer, said the company had “record-breaking Black Friday” with consumers spending heavily on clothing, holiday decor and toys. “I don’t see inflation particularly impacting consumers this holiday season so far, and we’re very optimistic about what’s to come,” he said.
President Biden meets with retailers to talk supply chain workarounds11/29/2021
With Christmas less than a month away, President Joe Biden is meeting with CEOs of Best Buy, CVS, Etsy, Food Lion, Kroger, Walmart and others today to discuss how to address existing supply chain challenges. The in-person and virtual meeting takes place with the knowledge that a new COVID-19 variant, dubbed Omicron, has been discovered.…
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British retailers don?t want to be mask police as new COVID variant arises11/29/2021
The British government has reinstated mask wearing rules with the discovery of a new COVID-19 variant that may be more transmissible and vaccine resistant than previous versions of the virus. Retailers are asking the government not to put the onus on them to enforce mask wearing and social distancing rules since doing so in the…
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Organized retail crime didn?t take a Thanksgiving break11/29/2021
Over the Thanksgiving weekend, a Best Buy in Minneapolis was hit by organized retail theft rings, joining the surge of incidents in which large crowds of thieves have descended on stores, emptying racks and making their getaways. Retailers are advocating for federal legislation to create more punitive consequences for those selling illegal merchandise online.
Secondhand sales are not disrupted by supply chain woes11/29/2021
Companies engaged in selling secondhand goods have a strong message at this point in time. Pricing remains a value in an inflationary period and inventory remains solid despite the supply chain disruptions affecting sellers of new goods. “While many retailers have been forced to raise prices due to inflation or supply chain pressure, we do…
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Millennials deal with inflation for the first time in their lives11/29/2021
Americans born between 1981 and 1996 have gone through their lives with low interest rates and tamped down inflation. The inflationary environment created as a result of the pandemic is about the only time in their lives when these consumers have had to deal with a sharp rise in prices. The good news is that…
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Christmas trees to deliver sticker shock to revelers11/29/2021
Consumers can expect to pay five to 10 percent more this year for a live tree and increases of up to 30 percent on artificial versions. “Christmas is not canceled, everyone will be able to find a Christmas tree,” said Jami Warner, executive director of the American Christmas Tree Association.
Retailers and brands sit Black Friday out11/24/2021
Allbirds, Freitag, Patagonia and other retailers and consumer-direct brands are closing brick and mortar and online stores for Black Friday as they opt for a different approach to selling for the holidays.
Dollar Tree raises prices11/24/2021
Dollar Tree said it will raise prices on the majority of products it sells to $1.25 in a nod to the current inflationary reality. CEO Michael Witynski expects that the chain’s customers will see that its $1.25 priced goods remain “an undeniable value” compared to “what they’re seeing out in the marketplace.”