Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
June Retail Sales Up 8%, But COVID-19 Threat Looms Large
A rise in COVID-19 cases combined with rising unemployment numbers is a threat to economic recovery, said the National Retail Federation.
New York—U.S. retail sales were on the rise in June, but a climb in COVID-19 cases and unemployment numbers remain a threat to the sector.
Retail sales, including food sales, climbed 8 percent month-over-month in June to $524.3 billion, according to data released by the U.S. Department of Commerce Thursday morning.
The results came in ahead of the 5 percent increase economists had expected.
In May, retail sales climbed 18 percent month-over-month following a 15 percent drop in April.
June sales were up 1.1 percent compared with June 2019, the first year-over-year gain since February, near the start of the COVID-19 pandemic.
RELATED CONTENT: Independent Jewelers See Sales Grow in June“The retail sales numbers from last month were very encouraging and reflect continued progress in the right direction,” said National Retail Federation CEO Matthew Shay in a press release.
The NRF also calculates monthly retail sales, narrowing in on core retail and excluding auto sales, gas stations, and restaurants.
Its calculations show June sales were up 5 percent seasonally adjusted from May and up 9 percent unadjusted year-over-year.
Looking at the commerce department’s data by category, clothing and accessories stores saw the strongest sales gains in June, up 105 percent month-over-month.
Shay said consumers are happy to be back out in their communities and have money to spend as a result of congressional relief packages, but noted retailers are remaining cautious about safety in light of the recent spikes in infection rates.
The rise of COVID-19 cases, especially in states in the South and West, has prompted businesses to pause reopenings or close again, sending unemployment numbers higher.
That uncertainty doesn’t bode well for an economic recovery.
Retail spending is driving an economic recovery, said NRF Chief Economist Jack Kleinhenz, but how long retail spending will improve is directly related to the spread of COVID-19 cases.
“All eyes are on the infections that are accelerating in many parts of the country and they pose a serious threat to recovery,” he said.
Florida, a hotspot for the virus in recent weeks, had more than 315,000 cases and 4,677 deaths as of July 16.
NRF co-signed a letter to President Donald Trump, Vice President Mike Pence and U.S. governors earlier this month calling for a national mask standard in the hopes of slowing the spread of the virus.
“Recoveries do not proceed in a straight line and no two are alike,” Kleinhenz said. “The current economy is far from normal and
Though government aid for consumers and businesses has helped, Kleinhenz said additional relief will be needed.
A new coronavirus relief package may be in the works when Congress returns from its holiday recess July 20.
The Latest
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.