This Week in Retail: Busy Shoppers Seek Convenience; Inflation Eased in October
Busy shoppers are increasingly seeking convenience during the hectic holiday season. This typically increases sales at food service and boosts interest in the prepared and frozen sections at retail.
The meat case is receiving lots of attention, too, as grocers heavily promote traditional holiday items including ham and turkey.
The National Retail Federation expects overall holiday spending this year to perform well despite ongoing inflationary pain points. The NRF projects holiday retail sales during November and December to grow between 6% to 8% year-over-year. Last year's holiday sales hit a new high at $889.3 billion, lifted in part by pandemic spending.
This week in retail, pork features climbed to the number one spot in retail buying opportunities with 23.2%. Beef closely follows with about 22%. Turkey features have swelled to 19.1%, compared to just 6.4% the week prior. Chicken ads chime in at 13.7%, while egg features have seen a slight uptick to...
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