By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Washington – Retail sales are projected to rise 4.1 percent this year, outpacing 2013’s 3.7 percent gains.
According to a report released today by the National Retail Federation (NRF), continued economic growth, and an expanding labor market and housing sector, will help stoke consumer confidence and expenditures.
“We are cautiously optimistic and hopeful that the economic tides will change in 2014,” said Matthew Shay, president/CEO of the trade association.
NRF cited forecasts for real GDP growth of 2.6 to 3 percent, the fastest in three years, and a decrease in the unemployment rate to near 6.5 percent or lower by December.
In the meantime, retailers this year will be investing in faster fulfillment; mobile payment; in-store mobile marketing; and “name your own price” shopping tools, the trade group said.
The sales projection includes most traditional retail categories, such as discounters, department stores, grocery stores, specialty stores, auto parts and accessories stores, and non-store categories, and excludes sales at automotive dealers, gas stations and restaurants.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.