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Increased consumer spending prompts NRF to boost 2016 sales projections
WASHINGTON – With increases in consumer spending expected to remain solid during the remainder of the year, the National Retail Federation on Tuesday increased 2016 retail sales projections by 30 basis points to 3.4% over last year.
Online and other non-store sales, which are included in the overall figure, are expected to increase 7% to 10% year-over-year rather than the 6% to 9% percent forecast earlier.
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NRF: back-to-school spending to reach $75.8 billion
WASHINGTON -- With back-to-school spending on a “stock up” cycle rather than a “make do” cycle, total spending for K-12 and college school supplies is expected to reach $75.8 billion, up from last year’s $68 billion, according to the National Retail Federation’s annual survey conducted by Prosper Insights and Analytics.