Retail Returns Expected to Total $890 Billion
Returns continue to pose a significant cost for the retail industry, with total returns projected to reach $890 billion in 2024. Retailers estimate that 17% of their annual sales in 2024 will be returned.
197 Million Consumers Shop Over Thanksgiving Weekend
The five-day holiday weekend from Thanksgiving through Cyber Monday saw an estimated 197 million shoppers. The figure is the second highest number in the survey’s history after last year’s record of 200.4 million.
Top Toys and Gifts for the Holidays
As a record number of people (183.4 million) are expected to shop during the Thanksgiving holiday weekend, a new survey from the National Retail Federation (NRF) and Prosper Insights & Analytics reveals the most popular toys and gifts consumers plan to purchase this holiday season.
Cosmetic Industry Faces Non-Compliance Under New FDA Regulations
An analysis from FDA compliance company Registrar Corp reveals that 48% of companies selling imported cosmetics at America’s top 25 retailers are non-compliant with the U.S. Food and Drug Administration’s (FDA) new cosmetics regulations.
Strong Retail Sales Gains in October
Retail sales bounced back strongly in October as the economy remained in good shape and consumers moved past concerns about a port strike and other issues that slowed September’s sales, according to the CNBC/NRF Retail Monitor.
Holiday Season Expected to Boost Toy Sales
Circana last week announced the U.S. toy retail sales performance results for January through September 2024, revealing insights into the retail trends, performance drivers and consumers’ holiday shopping intentions.
Finding Success Through Celebrity Partnerships
Celebrity partnerships have been used by companies since the early days of marketing. When done correctly, they can greatly help boost brand awareness. Big Sipz, a higher ABV canned cocktail brand, partnered with Waka Flocka on its Purple Punch flavor and has found huge success with the collaboration.
New Functionality Provides Brands with Better Marketing Insights
AI-powered audience insights platform RAD Intel just introduced state-by-state functionality to provide brands and agencies with better data and insights on both macro and micro influencers, ensuring more precisely targeted and effective marketing campaigns.
2024 Holiday Spending Expected to Reach New Record
Consumer spending on the winter holidays is expected to reach a record $902 per person on average across gifts, food, decorations and other seasonal items, according to the National Retail Federation’s latest consumer survey. The amount is about $25 per person more than last year’s figure and $16 higher than the previous record set in 2019.
Steady Sales Growth Expected for 2024 Holiday Season
During a media call, the National Retail Federation (NRF) forecasted that winter holiday spending is expected to grow between 2.5% and 3.5% over 2023. That equates to between $979.5 billion and $989 billion in total holiday spending in November and December, compared with $955.6 billion during the same timeframe last year.