CNBC/NRF Retail Monitor: Consumer spending stays strong in January
“Consumers demonstrated continued resilience in January” said NRF President and CEO Matthew Shay.
“Consumers demonstrated continued resilience in January” said NRF President and CEO Matthew Shay.
Ben Hackett, founder of Hackett Associates, said tariffs have brought “a global change in trade relations” that is weighing on import volumes.
55% of consumers plan to celebrate Valentine’s Day, with 83% of those buying a gift for a significant other.
NRF stated that the legislation would level the playing field for millions of U.S. businesses.
“The NRF Foundation Honors is more than a celebration; it’s a catalyst for the work we do year-round,“ NRF Foundation Executive Director Adam Lukoskie.
NRF President and CEO Matthew Shay said consumers continued to prioritize holiday spending despite ongoing cost pressures.
At NRF 2026, Zebra will demonstrate how it is empowering retailers with new solutions that incorporate AI, automation, and real-time data capture.
January imports are forecast at 2.11 million TEU, up from last month but down 5.3% from last year.
Shoppers are expected to use multiple channels, with nearly half, or 71.6 million consumers, or 45 percent, planning to shop both in-store and online.
“We are seeing the results of the tariffs in weakening cargo demand going forward from the fourth quarter of this year and likely into the first half of next year.”
“This year’s finalists have demonstrated exceptional creativity, collaboration and strategic thinking.”
Katherine Cullen, NRF vice president of industry and consumer insights, said retailers are ready for the surge.
The decline shows how retailers are managing labor costs amid tariffs, inflation, and automation investments.
Forecast say shoppers’ resilience, steady wages and low unemployment will drive more than $1 trillion in sales despite tariffs, inflation and political uncertainty
November and December are typically slower, but last year’s volumes rose due to port strike concerns, and early shipments this year to dodge tariffs shifted more cargo into earlier months.
“American consumers may be cautious in sentiment, yet remain fundamentally strong and continue to drive U.S. economic activity.”