Back-to-school shoppers start early, but focus on value as spending hits record levels
"Affordability is a concern for families and a top priority for retailers as we enter the back-to-school season."
"Affordability is a concern for families and a top priority for retailers as we enter the back-to-school season."
Retail sales increased again in June as consumers took advantage of summer promotions and began back-to-school shopping early, according to the latest CNBC/NRF Retail Monitor.
Import volumes are set to hit a record high in July as retailers stock up for potential tariff hikes and upcoming back-to-school and holiday seasons.
The report highlighted gains by regional grocers, off-price retailers, and hardware chains, with DICK’S Sporting Goods showing a significant increase.
NRF stated the proposed agreement doesn't address retailers' concerns about limited competition in payments and fails to curb rising transaction costs.
Online shopping leads purchasing plans, while electronics and personal care gifts post the biggest gains.
Retail sales rose for the eighth consecutive month in May as consumers continued spending despite elevated gas prices, tariffs and geopolitical uncertainty.
Retailers remain cautious about inventory levels amid ongoing economic and geopolitical uncertainty.
The amount surpasses last year’s total spending.
“Retail sales grew for a sixth consecutive month in March as the first wave of tax refunds offset higher gas prices,” NRF President and CEO Matthew Shay said.
“The retail industry continues to show its strength, delivering a solid year despite a range of ongoing challenges,” NRF Chief Economist and Executive Director of Research Mark Mathews said.
“Just because retailers don’t import a lot of merchandise from the Middle East doesn’t mean the U.S. supply chain isn’t affected by the turmoil there,” says NRF’s Jonathan Gold.
“We expect that consumer resilience to continue into 2026, with household spending once again serving as a pillar of economic support,” NRF President and CEO Matthew Shay said.
“In addition to tariffs, we are closely watching the situation in Iran and the potential impact it will have on retail supply chains.”
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“The Supreme Court’s announcement today regarding tariffs provides much-needed certainty for U.S. businesses and manufacturers.”