NRF: Easter spending to reach $23.6 billion this year
The figure represents a significant increase from last year’s $22.4 billion and comes close to the record-setting $24 billion spent in 2023.
The figure represents a significant increase from last year’s $22.4 billion and comes close to the record-setting $24 billion spent in 2023.
“More tariffs equal more anxiety and uncertainty for American businesses and consumers. While leaders in Washington may not care about higher prices, hardworking American families do."
The 2025 sales forecast compares with 3.6% annual sales growth of $5.29 trillion dollars in 2024.
Over 30 industry groups submitted comments opposing the proposed remedies in the Section 301 investigation. They cited a study that found the measures would lead to higher costs across multiple sectors, including retail.
“Lower-than-expected consumer spending in the first couple of months of the year likely reflected payback for very strong spending in the fourth quarter and weather-related events since then,” NRF's Kleinhenz said.
Despite the overall monthly decline, six out of nine retail categories posted year-over-year gains, with online sales, health and personal care stores, and general merchandise stores leading the way.
“Tariffs are just one tool at the administration’s disposal to achieve a secure border,” says NRF's David French.
Uncertainty looms as policymakers in Washington debate key economic policies, according to NRF Chief Economist Jack Kleinhenz.
NRF has issued a statement about the Trump administration’s plan to impose reciprocal tariffs on all trading partners.
Beehler, who previously worked at NRF, will oversee the organization’s state and federal policy agenda.
The January numbers follow a robust 2024 holiday season, during which core retail sales grew 4% yearly.
Retailers have accelerated imports of key products, anticipating a possible East Coast/Gulf Coast port strike in January and new tariffs from President Trump.
President Trump said Monday that he would pause tariffs on Mexico and Canada for a month, but levies on China were still set to take effect on Tuesday.
Software firm commits to its largest R&D spend in company history to fund new capabilities, faster release cycles and unified data model.
“The new contract brings certainty and avoids disruptions, and we hope to see it ratified as soon as possible,” said NRF Vice President Jonathan Gold.
“We are pleased to see the ILA and USMX come to a final agreement on a new contract, as U.S. ports on the East and Gulf Coasts play a critical role in the retail supply chain."