By Staff
Thursday, March 28, 2024 2:24 PM
The
National Retail Federation (NRF) forecast that retail sales will increase in 2024 between 2.5 percent and 3.5 percent to between $5.23 trillion and $5.28 trillion. The announcement was made during NRF’s fourth annual
State of Retail & the Consumer virtual discussion on the financial health of American consumers and the retail industry.
“The resiliency of consumers continues to power the American economy, and we are confident there will be moderate but steady growth through the end of the year,” NRF president and CEO Matthew Shay said. “Successful retailers offer consumers products and services when, where and how they want to shop with prices they want to pay.”
The 2024 sales forecast compares with 3.6 percent annual sales growth of $5.1 trillion in 2023. The 2024 forecast is in line with the 10-year, pre-pandemic average annual sales growth of 3.6 percent.
By Staff
Wednesday, March 27, 2024 1:30 PM
Despite more people choosing to stay single, “coupled households” are still trending upward, according to a
recent report from the U.S. Census Bureau. The report, titled, “The Share of Coupled Households in Your County and the Nation,” found that in 2020, coupled households were among the top living arrangements in the U.S., coming in at 53 percent, down slightly from 55 percent in 2010 and nearly 57 percent in 2000.
The highest rate of coupled households can be found along coastal areas in both the East and West, with urban areas having the highest number of same-sex married and unmarried households with couples.
New figures from the
Coupled Households By County report found that 86 percent of households were made up of opposite-sex married couples. This was followed by opposite-sex unmarried partners or cohabiting households at 11 percent, and same-sex married couples at 0.9 percent. The smallest share of coupled households were same-sex, unmarried partner households, at 0.6 percent.
People are also waiting longer to get married. More than 67 percent of the population over the age of 15 was married in 1960. This number fell to 50 percent in 2021. Experts believe this sharp decline is due to better education and employment opportunities for women.
The median age for marriage has also risen. Public perceptions toward couples cohabiting outside of marriage have also changed, as well as a greater acceptance of living alone.
Idaho, Utah and Wyoming saw the highest number of opposite-sex married couples, while Arizona, California, New Mexico, Oregon and Washington saw the lowest.
By Staff
Tuesday, March 26, 2024 3:00 PM
Waning inflation is encouraging Americans to make spring travel plans. A
new report from Nationwide Travel Insurance indicated that consumer optimism is up with 91 percent of respondents saying they planned to travel domestically this year. Additionally, four in 10 respondents said they planned to travel more in 2024 than they did in 2023. Nearly half of respondents reported they were planning international travel this year.
Travelers can expect the roads to be busy in 2024 with 30 percent of survey respondents saying they plan to use their vehicle to get to their travel destination, while 22 percent said they planned to travel by air.
Cruises have also seen a surge in popularity due to the end of COVID restrictions, however, 51 percent of respondents said they were still concerned about a resurgence impacting travel this year.
Purchasing insurance is a priority for travelers taking more elaborate trips, with 68 percent of respondents saying they get coverage for trips to another country and 65 percent reporting they purchase coverage for expensive trips. Meanwhile, 58 percent reported they get additional coverage for areas that have a bad weather season and 55 percent add coverage when traveling to places during a disease outbreak.
By Staff
Monday, March 25, 2024 1:45 PM
Drivers are hesitant about getting behind the wheel of autonomous vehicles. According to a
new report from the American Automobile Association (AAA), more than 66 percent of U.S. drivers expressed fear about driving autonomous vehicles, while 25 percent said they were uncertain about fully self-driving vehicles.
Despite these fears, there is still an interest in semi-autonomous technology such as reverse automatic emergency braking (AEB) and lane-keeping assistance systems. According to experts at AAA, continued advancements in vehicle technology and consistency in performance should help alleviate fears over time.
In recent years, several high-profile cases of autonomous vehicles getting into accidents have led many drivers to question the safety of self-driving cars. The AAA’s latest findings show that 65 percent of drivers would want self-driving vehicles to have reverse automatic emergency braking, while 63 percent said they would want automatic emergency braking and 62 percent would expect lane-keeping assistance systems.
Data shows, however, that reverse automatic emergency braking systems only prevented conditions in 1 out of 40 test runs and 10 out of 20 test runs where there was a child target behind the vehicle.
The organization added that advanced vehicle safety technology should enhance driver awareness rather than give the impression of replacing a vigilant driver. Meanwhile, four out of 10 drivers say they are unsure or think they would be confident buying a car that drives itself while the driver sleeps.
By Staff
Friday, March 22, 2024 3:00 PM
March 25 marks the start of Tick Bite Awareness Week across the U.S. Ticks are the leading cause of Lyme disease, which is transmitted through black-legged ticks to humans in the form of a bacterial infection. As the temperatures rise, the risk of tick bites becomes greater. According to
Statista, July remains the peak month for infection, averaging more than 87,000 cases.
The
Centers for Disease Control estimates that there could be as many as 476,000 cases of Lyme Disease in the U.S. each year.
Climate change is believed to be one of the major influences on the rise in cases, creating longer tick seasons and more opportunities to be outside. The GLA offers several tips to reduce the risk of contracting Lyme disease.
● Avoid tick-infested areas such as wooded areas, tall grass and stone walls.
● Wear light-colored clothing to spot ticks more easily.
● Apply Environmental Protection Agency-approved tick repellent such as DEET, picaridin or other insect repellents.
● Remove clothing upon entering the home and toss it into the dryer at a high temperature for 10 to 15 minutes to kill live deer ticks.
● Examine yourself and your pets for ticks. Check for bumps in areas such as the knees, groin and armpits. A tell-tale bullseye is one of the most obvious ways to pinpoint a tick bite.
If you discover a tick, remove it immediately with tweezers and send it to be tested. If you notice flu-like symptoms, swollen lymph nodes and joint pain, see your doctor immediately.
By Staff
Thursday, March 21, 2024 11:21 AM
The retail industry supported 55 million full-time and part-time jobs in 2022, accounting for 26 percent of total U.S. employment, according to a new report released by the
National Retail Federation. The figures are up from 52 million jobs and 25 percent of total U.S. employment in 2018. Conducted by PwC, the report titled,
“The Economic Contribution of the U.S. Retail Industry,” examines the direct, indirect and induced contribution of the retail industry to the U.S. economy.
“The retail industry continues to expand in every way possible, from the number of jobs it supports to the number of retail businesses, and its total impact on GDP (gross domestic product),” NRF president and CEO Matthew Shay said. “As the largest private-sector employer, American families and workers depend on a strong retail economy for continued growth and opportunity in communities large and small across the country.”
According to the report, the retail industry’s total labor income contribution was approximately $3 trillion, or 20 percent of total national labor income in 2022. The industry’s total gross domestic product (GDP) contribution was $5.3 trillion, accounting for 20.4 percent of U.S. GDP.
By Staff
Wednesday, March 20, 2024 9:52 AM
The World Meteorological Organization (WMO) is sounding the alarm after record-breaking temperatures were recorded in 2023. The WMO provisional
State of the Global Climate report, released at the end of 2023, confirmed that temperatures reached new heights across the globe rising 1.4 degrees Celsius above the pre-industrial 1850-1900 baseline.
According to the report, the past nine years have been the warmest on record, with the 2023–2024 El Niño expected to drive temperatures even higher.
Sea levels have also risen at an alarming rate, doubling between 2013 and 2022 over the years 1993 and 2002. This is due to ocean warming causing glaciers and ice sheets to melt. Notably, sea ice in the Antarctic was the lowest on record, 1 million km2 less than the previous record low. Meanwhile, Swiss glaciers have seen a drop in volume of more than 10 percent over the last two years.
The final State of the Global Climate 2023 report, along with regional reports, will be published in the first half of 2024.
By Staff
Tuesday, March 19, 2024 10:41 AM
America needs more volunteers. Volunteerism is on the decline across the country as Americans spend more time at home and less time in their communities.
A
report from AmeriCorps titled, “Volunteering and Civic Life in America Research Summary,” finds 23 percent of Americans, or just over 60 million people, were formal volunteers with organizations between September 2020 and 2021. This is the equivalent of just over 4 billion volunteer hours resulting a positive impact of $122 billion in economic value.
AmeriCorps is the federal agency for national service and volunteerism. The report divides volunteering into two categories: formal volunteering with an organization and informal helping that is done in a non-organized context.
Formal volunteering fell from 30 percent in 2019 to 23 percent in 2021, with women seeing the largest drop in volunteering at a rate of 8 percent while the rate of men volunteering fell by 5 percent.
Volunteerism saw a small uptick during the pandemic, as 50 percent of Americans over the age of 16 provided informal help to their neighbors during the pandemic. Meanwhile, 25 percent of Americans over the age of 16 took part in some form of formal volunteering.
A
report from the National Council of Nonprofits finds that the need for volunteers continues to grow post-pandemic. By mid-2022, nearly half of nonprofit CEOs reported recruiting enough volunteers was still “a big problem," while formal volunteering dropped more than 23 percent in 2021 compared with 2019.
By Staff
Monday, March 18, 2024 2:20 PM
Despite other areas seeing a decline in population, Florida is home to five of the nations’ fastest growing metropolitical statistical areas. A
new report from the U.S. Census Bureau finds this is part of a growing trend of Americans flocking to the southern areas of the U.S. The southern part of the U.S. is home to 10 of the fastest growing metro areas between 2022 and 2023.
In January 2023,
VMAIL reported that the U.S. was seeing a surge in population despite falling birth rates globally.
Areas in Florida that are seeing the largest population increases include, Wildwood-The Villages, recently named the nation's fastest growing metro area, saw its population rise by 5 percent to 151,565. It was followed by Lakeland Winter Haven, which saw growth of 4 percent and Ocala and Port St. Lucie, which had a population increase of more than 3 percent.
Sixty-two percent of counties, up from 60 percent in 2022, experienced positive net domestic migration in 2023, according to the
U.S. Census Bureau.
Experts believe there are several factors contributing to the surge in growth in the southern U.S., including an increase in net domestic migration. In Texas, a natural increase and positive net migration drove population growth.
In the Dallas-Fort Worth region, growth was driven by both domestic and international migration, along with more births than deaths.
By Staff
Saturday, March 16, 2024 2:00 PM
A
new report from the National Retail Federation (NRF) has revealed that consumers are expected to spend more than $22 billion this Easter holiday season, down slightly from 2023, when consumers spent a record high of $24 billion.
"Each year, Americans look forward to the celebration of Easter and the renewal of time and traditions with loved ones,” NRF president and CEO Matthew Shay said. “Retailers understand the importance of this holiday and are ready to help their customers find the items they want and need at affordable prices."
Every year, the NRF conducts a
survey of consumer spending habits leading up to Easter. This year, 81 percent of respondents said they planned on celebrating the holiday, with the average person expected to spend $177, down from $192 in 2023.
Approximately 53 percent of consumers will purchase their Easter gifts at discount stores, while 40 percent said they were going to do their shopping at department stores. More than 33 percent reported they would be shopping online, while 33 percent said they will be shopping local, and 20 percent report they will visit specialty stores.
The survey found that 57 percent of consumers plan to cook a holiday meal, 53 percent said they would visit family and friends, and 43 percent said they planned on going to church. More than half of households reported they would be doing an Easter egg hunt at home.
By Staff
Friday, March 15, 2024 4:23 PM
The fashion industry may be in for a bumpy ride in 2024. A
report from McKinsey finds that the industry has seen a post-pandemic resurgence with record profits in 2021 and 2022. In 2023, however, the industry began to see a slowdown due to weaker demand and slowing sales.
McKinsey’s fashion forecasts put top-line growth at between 2 percent and 4 percent in 2024, with the luxury segment slated to bring in the highest profits. Overall, however, the segment is expected to slow 3 percent to 5 percent growth, down from 5 percent to 7 percent in 2023.
Meanwhile, the European market is expected to expand by between 1 percent and 3 percent, down from 5 percent in 2023.
Leadership at McKinsey recommends that fashion companies examine 10 key themes as they continue to face financial challenges in 2024, including to be on the alert for opportunities and develop contingency plans.
Experts are also advising businesses to stay on top of costs and expect an increasingly competitive environment.
Despite these challenges, experts believe hard luxury goods, like jewelry, watches and leather, will remain in high demand due to their investment nature.
By Staff
Tuesday, March 12, 2024 1:20 PM
St. Patrick’s Day is just a few days away, and Americans are ready for the wearing of the green to pay homage to Ireland’s most famous Saint. St. Patrick’s Day is celebrated every year on March 17 and the holiday recognizes the heritage and traditions of Irish culture.
Today, Americans honor their Irish ancestry on St. Patrick’s Day with parades and other festivities. More than two-thirds of Americans will celebrate the holiday this year, according to
Statista. U.S. consumers are expected to spend $7.2 billion on St. Patrick’s Day celebrations, up from $6.9 billion in 2023.
Large celebrations are held in several cities across the U.S., including New York, which will host the annual St. Patrick’s Day parade on Saturday, March 16. In Chicago, the Chicago River is dyed green to celebrate the Irish heritage of the city. Boston hosts several events, including a parade and an Irish festival, while Washington, D.C., hosts parades across the region complete with pub crawls.
For more than 1,000 years, people have been marking the anniversary of the death of St. Patrick, who died during the fifth century. He is notably remembered for bringing Christianity to Ireland and driving the snakes out of the country. He is also noted for explaining the Holy Trinity (Father, Son and Holy Spirit) using the three leaves of a clover, the shamrock.
According to the
U.S. Census Bureau, there are more than 31.5 million people living in America who claim Irish ancestry. New Hampshire, Maine, Massachusetts and Rhode Island have some of the highest numbers of people with Irish ancestry living in their states.
By Staff
Monday, March 11, 2024 5:02 PM
The American economy has seen significant contributions from the recreational fishing industry in recent years. New data from the American Sportfishing Association (ASA)
2023 Economic Contributions of Recreational Fishing: U.S. Congressional Districts report finds that anglers contribute more than $148 billion in economic output and support more than 945,000 jobs across the country.
These figures include employment in the manufacturing and sales of fishing equipment and gear, and recreational fishing. The report noted that jobs were also generated in the hotel lodging, restaurant and charter boat industries.
In August,
VMAIL reported recreational anglers generated $51 billion in retail sales each year. In addition to this figure, the ASA reported that anglers contributed more than $1.8 billion toward conservation efforts.
According to
Statista, more people are participating in fishing for more than just sport. A recent survey found that 51 percent of U.S. fishing participants responded that the best thing about fishing, besides catching fish, was the enjoyment of the sounds and smells of nature.
By Staff
Friday, March 8, 2024 5:02 PM
This past weekend, drivers lost one hour of sleep, causing many to hit the roads today feeling a bit drowsy. A
new report from the AAA Foundation for Traffic Safety, shows that driving during Daylight Saving Time can have a significant impact on road fatalities.
A
study published in
Current Biology found a 6 percent increase in fatal-accident risk in the U.S. following Daylight Saving Time.
The time change forces many drivers to head out on the roads while it is still dark. New data shows that, 17.6 percent of all fatal crashes in the years 2017 to 2021 involved a drowsy driver. During that same period, more than 29,800 drivers were killed because of drowsy driving.
The AAA study also found that driving while drowsy was a factor in 10 times as many traffic fatalities as traditional crashes.
The AAA offered several recommendations for drivers to ensure that the time change does not have an impact on their driving.
● Aim for at least seven hours of sleep per night.
● Travel at times of the day when you are normally awake.
● Avoid driving when you are tired or sleepy.
● Take breaks every two hours or 100 miles.
● Avoid heavy meals before driving.
● Avoid alcohol and drugs.
● Travel with an alert passenger and take turns driving.
The AAA recommends taking a 20- to 30-minute nap whenever possible to help improve alertness.
By Staff
Wednesday, March 6, 2024 4:49 PM
The holidays may be over, but there are still plenty of reasons to celebrate. On March 17, Americans will put on their favorite green attire to enjoy St. Patrick’s Day festivities. There are also other holidays on the horizon when people will enjoy a drink with friends, including Mother’s Day, Easter and Father’s Day.
The
National Institute on Alcohol Abuse and Alcoholism (NIAAA) wants Americans to be aware of when they are consuming too much alcohol. Drinking in excess can impair the mind and body, leaving people at risk for car accidents or serious disease.
According to the
Centers for Disease Control there were 178,000 deaths in the U.S. each year during 2020–2021, which translates to 488 deaths per day.
In many cases, people don’t understand just how little alcohol is required to be deemed impaired. Even mild impairment can lead to poor decision-making and decreases in inhibitions and judgment. Mild impairment can begin with as little as one drink, which could measure up to 0.05 percent. Remember, not everyone experiences the effects of alcohol in the same way, so, these figures can vary from person to person.
The effects of drinking can last beyond when you put your glass down. It can take hours for the effects of alcohol to wear off and can affect your ability to perform daily tasks long after you are finished drinking.
Whether you are enjoying time with family and friends or relaxing at the end of the day, the NIAAA recommends having a plan in place to ensure you are safe when drinking.
Hosts should offer a variety of alcohol alternatives such as water, juice and soda. Ensure you have a selection of foods that help slow absorption of alcohol. Food can reduce peak level of alcohol by one-third, as well as minimize stomach and gastrointestinal upset.
Provide a safe way for your guests to get home. Offer a space for them to sleep, call a cab or arrange for designated drivers.