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Palomar Press Briefing | February 23, 2022



 INDUSTRY NEWS

February 23, 2022

 

CFO SURVEY: 55% OF RETAILERS TO RAISE PRICES IN 2022; NO. 1 RISK TO BUSINESS IS…

Supply chain threats are translating into rising prices for consumers. That’s according to BDO’s 2022 Retail CFO Outlook Survey, which polled 100 retail industry CFOs with revenues ranging from $250 million to $3 billion in October 2021.

U.S. RETAIL E-COMMERCE SALES TO EXCEED $1 TRILLION THIS YEAR

E-commerce sales in the United States are set to hit an important new record in 2022 amid a spending shift to mobile. E-commerce sales will exceed $1 trillion for the first time in 2022, totaling $1.065 trillion and accounting for 15.9% of total retail sales, according to a forecast by eMarketer’s Insider Intelligence.

CGP: RETAIL SALES TO RISE 7.2% TO $4.79 TRILLION IN 2022 – BUOYED BY INFLATION

Retail sales growth will start to normalize this year even as inflation shakes stores as well as shoppers. That’s according to Customer Growth Partners’ 2022 Annual Forecast which said that retail sales will slow sharply from 2021’s torrid 14.1% pace – the highest on record – to increase 7.2% in 2022.

ONLINE GROCERY SALES SLIGHTLY DROP IN JANUARY 

Brick Meets Click and Mercatus have released their first monthly online grocery report of 2022, showing that the U.S. online grocery market generated $8.5 billion in sales during January. The survey was fielded Jan. 29-30 with 1,793 adults taking part. Total January 2022 sales were down 8% compared to January 2021.

HOME DEPOT EXPECTS SALES GROWTH TO SLOW IN 2022

Sales growth will likely slow this year for Home Depot Inc., the home-improvement retailer said Tuesday, an indication that the sector’s rapid expansion during the Covid-19 pandemic is moderating. Over the last two years, homeowners have been pouring more money into household projects, a trend amplified by a strong housing market and government stimulus.

HERE’S WHY MACY’S ISN’T SPLITTING ITS ONLINE BUSINESS FROM ITS STORES

Macy’s isn’t breaking up after all. On Tuesday, the department store chain affirmed that it will forge ahead as one retailer, despite pressure from activist Jana Partners to split into two entities. The department store chain had been working closely with advisors to consider a number of scenarios.

JACK NICKLAUS, JUSTIN THOMAS TEAM UP TO LAUNCH ULTRA LUXURY FLORIDA GOLF COMMUNITY

A golf legend and one of the PGA’s hottest young stars are teaming up to create a luxury golf community in Palm Beach County, Florida. Hall of fame golfer Jack Nicklaus, 82, and 28-year old PGA Tour star Justin Thomas broke ground Tuesday at Panther National in Palm Beach Gardens.

 

 

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