The Conference Board reported Tuesday that its consumer confidence index rose to 101.8 — a jump from 86.3 in August — and surpassed analysts’ forecasts of a slight increase. … READ MORE >
Consumer products
CHART OF THE DAY: Consumer sentiment continues its climb back
The index of U.S. consumer sentiment index continued to climb back from the depths of the economic shutdown in April, the University of Michigan reported Friday. … READ MORE >
CHART OF THE DAY: Higher food costs during the pandemic
The latest consumer price inflation data confirms what we all know – it costs more to eat during the pandemic, but it costs a lot less to drive to your favorite closed restaurant. … READ MORE >
CHART OF THE DAY: Middle market retailers pay close attention to inflation as pandemic progresses
Many RSM clients have reported that inflation has been, and continues to be top of mind for them. The data supports what we’ve heard. Throughout the pandemic, the cost of food at home has been the mirror image of the Consumer Price index. … READ MORE >
CHART OF THE DAY: Consumers upgrade groceries in lieu of restaurant meals as pandemic continues
In July and August, specialty food retail sales grew to 30.6% and 28.1% of pre-pandemic levels, respectively, outpacing categories that saw strong sales growth in March 2020. With consumer packaged goods giants reducing their offerings to focus on replenishing core products, and grocers softening on in-store promotional requirements, there are plenty of opportunities for innovative brands to capture market share. … READ MORE >
Chart of the Day: Consumer confidence falls to six-year low
The Conference Board’s measure of consumer confidence fell to its lowest level in six years in August, underscoring uncertainty amid high unemployment in a U.S. economy that has faced pandemic-driven stops and starts since mid-March. … READ MORE >
Grocers get margin relief, but it may only be temporary
Food retailers experienced better profit margins in June as they were able to pass along price increases to customers while their costs from suppliers dropped. … READ MORE >
Retail sales rose 7.5% in June as economies reopened
June retail sales were strong for a second straight month, fueled by the reopening of economies across the country and the continuation of pent-up demand from lockdowns earlier in the year. Overall retail sales rose by 7.5% in June, which followed May’s record 18.2% gain. … READ MORE >
Miles away: U.S. airports face heavy lift and slow recovery
The COVID-19 pandemic and resulting shelter-in-place protocols have devastated the airline industry. Along with it, airports across the country, rife with retail, have suffered significant losses.
As cancellations of business trips and vacations mounted beginning with the onset of the outbreak in mid-March, traffic from travelers plummeted. The Transportation Safety Administration reported that throughput fell to approximately 100,000 people per day by the first week of April, down from almost 2.2 million daily a month earlier. … READ MORE >
May retail sales soar, but will it continue?
Retail sales soared by 17.7% in May, the biggest month-over-month increase on record, the Commerce Department reported on Tuesday. … READ MORE >