Shop.org, NRF’s digital division, expects online sales in 2013 to grow between 9.0 and 12.0%. Online sales in 2012 during the months of November and December last year grew 11.1 percent.
“What we witnessed during the holiday season is an indication of what we are likely to see in 2013. Consumers read troubling economic headlines every day and look at their bottom lines at the end of the month, and they don’t like what they see,” NRF President and CEO Matthew Shay said. “Pushing fiscal policy decisions down the road will lead to even greater uncertainty, and will continue to impact consumers’ desire and ability to spend on discretionary items. The administration and congress need to pursue and enact policies that lead to growth and economic expansion, or it could be another challenging year for retailers and consumers alike.”
“Retailers will compensate for the drag on household spending this year by managing inventories and focusing on providing value for their shoppers through unique promotions in stores and online and exclusive product lines,” continued Shay.
A number of factors contributed to NRF’s 2013 economic forecast, including:
Employment: The labor market continues its modest recovery but 2013 is not expected to result in meaningful acceleration in growth. As of December 2012, the unemployment rate has held steady for the last two months at 7.9 percent. Retailers on average employed 150,000 more workers in 2012, and the industry remains one of the biggest employers in the world.
Income growth: Consumers are constrained by modest growth in income, and recent legislation passed in January increased payroll taxes for millions of workers, further limiting and Americans spending decisions.
Housing: NRF expects the housing sector to continue to improve and the fundamentals for growth to see continued gains in 2013.
Inflation: Price pressures continue to be contained. NRF expects the Consumer Price Index to increase 1.9 percent in 2013, below the 2.1 percent increase in 2012.
Consumer confidence: Current consumer attitudes are likely weighed down because of the handling of the fiscal cliff and the increase in payroll taxes. We expect confidence to improve as the pace of the recovery accelerates in the second half of 2013.
Apparel/Garments | On 20th Feb 2020
Bangladesh's garments accessories and packaging sector may incur a...
Textiles | On 20th Feb 2020
The novel coronavirus (CV) outbreak and its potential ramifications...
Retail | On 20th Feb 2020
Authentic Brands Group (ABG), a global brand development, marketing,...
Fashion houses, India
With technology, it has become easier to ensure IPR
Fashion industry likely to remain labour-intensive in coming years
Bridalwear is not about reds and whites anymore
Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...
A crucial role in the process of fabric manufacturing is played by the...
Switzerland-based Sedo Engineering develops technologies for the denim...
Directa Plus SpA
Established in 2005, Direct Plus SpA, is one of the largest producers and...
Statex Produktions & Vertriebs GmbH
Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...
Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively
Functional Fabric Fair is a trade-exclusive event showcasing the latest...
"You have to truly understand what your client wants, know her needs, what ...
Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...
Whistling Woods International School of Fashion
<div>A lack of upgraded courses in costume designing and fashion as per...