“Good news on vaccines, economy drives a sunnier view of retail at Moody’s” by Ben Unglesbee via Retail Dive

“Good news on vaccines, economy drives a sunnier view of retail at Moody’s” by Ben Unglesbee via Retail Dive

Dive Brief: Moody’s analysts see “broad-based improvement” ahead for the retail industry in 2021 as vaccinations grow and pressure from the COVID-19 pandemic eases, according to a recent report.The ratings agency lifted its industry outlook for retail to positive from stable based on a strong economic environment. Analysts now estimate operating profit to grow a “robust” 10% to 12% during the year.Those sectors hit hardest last year have some of the most room for growth, including apparel, department stores and off-price, the analysts said. Dive Insight: The Moody’s report comes on the heels of good general economic news. During the first quarter of 2021, the economy grew at an annualized rate of 6.4%, driven by consumer spending, government stimulus, residential investments and other factors, according to the Bureau of Economic Analysis. Meanwhile, the latest four-week average for jobless claims hit their lowest point since March 14, 2020, a sign that the general business environment is finally normalizing as inoculations against COVID-19 increase.  Vaccinations not only hold the promise for returning shoppers back to malls and other centers, but they can also open up the world more broadly. Office work, conferences, parties, weddings, travel, in-person school — are all poised for a comeback as COVID-19 cases decrease. And all of those things might help drive apparel and other retail spending.  It’s great news for the hardest hit retailers from the pandemic. S&P Global Ratings, for instance, raised its outlook for department store giant Macy’s this week. Analysts with S&P also cited a fast-improving economy and an expected apparel comeback in lifting the outlook for Macy’s, which was downgraded multiple times last year and posted a nearly $4...
“Vaccinations Do Not Mark the End of Americans’ COVID Shopping Behaviors: What Retailers Need to Know” by David Fisch via Total Retail

“Vaccinations Do Not Mark the End of Americans’ COVID Shopping Behaviors: What Retailers Need to Know” by David Fisch via Total Retail

We’ve entered the next stage of combating COVID-19 as vaccinations roll out across the country. While this may be the next step towards getting the pandemic under control, consumers remain wary. In fact, vaccine or not, most Americans said they would hardly change their current shopping behaviors — an important finding for retailers currently planning their long-term strategies. As part of our ongoing efforts to support brand and retail partners with regular insights throughout the COVID-19 pandemic, Shopkick recently surveyed more than 21,000 consumers to learn more about their sentiments toward the vaccine and how it will impact their shopping habits. What we learned is eye-opening. Many Consumers Don’t Plan to Get Vaccinated Part of the hesitancy to revert completely to pre-COVID shopping behaviors comes from the knowledge that many people will choose not to get vaccinated. While some of the folks surveyed had already received at least one dosage of the vaccine (8 percent) or were planning to receive it (48 percent), nearly half (44 percent) said they didn’t plan to get vaccinated at all. Retailers must also recognize how these views differ amongst demographics in order to successfully reach and engage with their target consumers. When broken down by generation, millennials made up the largest segment of those not confident in the vaccine (35 percent) and not planning to get vaccinated (51 percent). Meanwhile, the youngest and oldest generations proved the most confident in the vaccine, with 71 percent of Gen Zers and 75 percent of boomers saying they felt some level of confidence. Related story: How 2020 Shaped Consumer Behavior: Key Insights for 2021 Don’t Dismiss Online and Omnichannel — Consumers...
“Stimulus checks in hand, consumers are ready to shop. But are retailers ready for the influx?” by Martha C. White via NBC News

“Stimulus checks in hand, consumers are ready to shop. But are retailers ready for the influx?” by Martha C. White via NBC News

Shoppers wearing protective masks carry bags inside a shopping mall in San Francisco on March 9, 2021.David Paul Morris / Bloomberg via Getty Images Shortages and supply chain bottlenecks may throw cold water on the upcoming consumer spending surge. Economists and policymakers are forecasting a surge in consumer spending this year, as the Covid-19 vaccination rollout accelerates, business restrictions ease and schools reopen. But retailers are already finding that shortages and supply chain bottlenecks could imperil their ability to facilitate the spending that contributes a significant chunk of the nation’s economic activity. Federal Reserve board members and regional Fed presidents expect that the U.S. economy will grow by 6.5 percent this year, in line with the expectations of the Organization for Economic Cooperation and Development. A prominent retail trade group is forecasting sales will increase by as much as 8.2 percent over last year, up to $4.4 trillion of economic activity. “We remain optimistic that retail will help facilitate a surge in spending, job growth and capital investment,” National Retail Federation president and CEO Matthew Shay said in a statement. This means retailers need to forecast what American shoppers want to buy and make sure they have the supply chains in place to supply the inventory, and the distribution networks to get those goods into buyers’ hands. It’s no small task, analysts and retail consultants say. “Many of my retail clients are very hopeful for that boomerang in customer traffic coming back in stores,” said Sean Whitehouse, managing director at Accenture. The challenge for retailers is trying to predict what people will buy when the world becomes unpredictable. “You’d have to...
“Did you miss the live M1 webinar session this week? Not to worry, we recorded it for you!” via BRA Supporting Vendor Partner Management One

“Did you miss the live M1 webinar session this week? Not to worry, we recorded it for you!” via BRA Supporting Vendor Partner Management One

In this free educational webinar we sat down with industry experts to discuss changes to round 2 of the PPP geared towards helping small businesses. What does this mean for YOUR retail business? We cover everything you need to know on our live webinar session. In December, the PPP loan program was given new life, but that’s not the only source of financial assistance available to retailers in this crisis. Join Management One as we invited a panel of financial experts to discuss the levers available to retailers to optimize access to government stimulus options and evolve their merchandise strategies. Financial Keys to Retail Success in 2021 PPP and Beyond Webinar on Demand Download the PPP Worksheet here: https://www.management-one.com/ppp-lo…​ Thank you for attending our live session as we sat down with industry experts to discuss changes to round 2 of the PPP geared towards helping small businesses. What does this mean for YOUR retail business? We’ll cover everything you need to know on our live webinar session. In December, the PPP loan program was given new life, but that’s not the only source of financial assistance available to retailers in this crisis. Join Management One as we invite a panel of financial experts to discuss the levers available to retailers to optimize access to government stimulus options and evolve their merchandise strategies. View this free, live discussion with Rich Rose of Rainstar Capital and Missy Waites of Alliant Group as we talk through the various financial options retailers have at their disposal. Marc Weiss, Erin King and Paul Erickson from M1 will also offer key insights into how these...
“BRA Retailer Roundtable Panel Discussion (from Surf Expo Connect), other relevant videos from the BRA YouTube Channel and more”

“BRA Retailer Roundtable Panel Discussion (from Surf Expo Connect), other relevant videos from the BRA YouTube Channel and more”

Board Retailers Association organizes and expresses the views and concerns of independent board specialty retailers to industry associations, major trade show organizations and others in an effort to help promote our industry, support the board sports specialty retailers and protect our Lifestyle. BRA Retailer Roundtable Panel Discussion (Surf Expo Connect – Sept. 2020) View board sport specialty retailers from around the United States speak about how they are managing these challenging times, the resources they have leaned on and new opportunities that lie ahead. This remarkable Retailer Roundtable Panel Discussion initially aired at the Surf Expo Connect virtual tradeshow on September 17, 2020 Host: George Leichtweis, BRA Chairman and Owner of Modern Skate & Surf (Royal Oak, MI) Panelists: Ferguson Herivaux, One Gig (Boston, MA) Coco Tihayni, Surf Diva (La Jolla, CA) D. Nachnani, Coastal Edge (Virginia Beach, VA) Paul Erickson, Management One Tune in with Doug Works from Board Retailers Association – PropagandaHQ.net interview by Vipe Desai This is a video of an interview conducted on September 28, 2020 by Vipe Desai of PropagandaHQ.net with Doug Works (Executive Director of the Board Retailers Association), who shared updates with Vipe on what the organization is doing to help its retail members as well as insights as to how retailers are managing during the pandemic. Be sure to visit PropagandaHQ.net to view valuable Industry News and Resourceful Articles regularly. BRA Webinar: Reopening Your Store – The Things That You Are Not Yet Thinking About (Dan Jablons,RSG) Special Educational Webinar hosted by Board Retailers Association and presented by Dan Jablons of Retail Smart Guys on May 21, 2020 and now available...
“Covid 19 Relief Package – U.S. Congress Passes Bill” via Management One

“Covid 19 Relief Package – U.S. Congress Passes Bill” via Management One

The saying “better late than never” can certainly apply here… After dragging its feet for months (which felt like years), U.S. Congress has delivered a stimulus bill offering relief to small businesses and families struggling to survive the recent COVID surge. How will this affect the retail community?The Wall Street Journal on December 21st posted a categorical graphic breakdown of where the proposed $900 billion will be allocated (with a large percentage set aside for small businesses) and here are key provisions (provided by CNN) that will be included as part of the $900 billion agreement, according to releases sent out Sunday evening by members of Democratic and GOP leadership: Direct payment checks of up to $600 per adult and childAid for struggling small businesses, including more than $284 billion for forgivable Paycheck Protection Program loans and $15 billion “in dedicated funding for live venues, independent movie theaters, and cultural institutions”$300 per week for enhanced unemployment insurance benefits$20 billion to buy vaccines and make “the vaccine available at no charge for anyone who needs it” and $8 billion for vaccine distribution$20 billion for coronavirus testing efforts$25 billion for rental assistance and an eviction moratorium extension$82 billion for education providers like schools and colleges, including aid to help reopen classrooms safely and $10 billion for child care assistanceThe deal will rescind “$429 billion in unused funds provided by the CARES Act for the Federal Reserve’s emergency lending facilities”$13 billion in increased Supplemental Nutrition Assistance Program and child nutrition benefits$7 billion to bolster broadband access to help Americans connect remotely during the pandemic$45 billion to support transportation services, including $2 billion...