Viewers to spend more than $17 billion on Super Bowl parties, apparel and more, survey says - WDAF FOX4 Kansas City |
- Viewers to spend more than $17 billion on Super Bowl parties, apparel and more, survey says - WDAF FOX4 Kansas City
- SpendEdge Unveils the Top Apparel Sourcing Challenges that Companies Face in the US | Request a FREE Proposal for Comprehensive Insights - Yahoo Finance
- Nordstrom To Start Selling Secondhand Apparel Online - CBS Detroit
- Tariffs are beginning to raise prices for U.S. consumers: American Apparel & Footwear Assoc. - Yahoo Finance
| Posted: 30 Jan 2020 06:01 PM PST  DALLAS — The National Retail Federation released its annual Super Bowl survey and found spending is on track to be the highest ever for the big game: an estimated $17.2 billion. The NRF expects each viewer to spend a little less than $90 on average. The group reports 19% of viewers plan to throw a party and 27% are planning to attend one. As you might imagine, 80% of the purchases are expected to be for food and drinks. The rest of that money will go toward team apparel, televisions, furniture and decorations, according to the survey. The NRF reported the highest spending year was 2016 – with roughly $15.5 billion put on the books. The big day is Sunday! The San Francisco 49ers face off against the Kansas City Chiefs in Miami. 32.776664 -96.796988  |
| Posted: 30 Jan 2020 08:39 AM PST  SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the apparel sourcing challenges companies face in the US. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200130005567/en/ Apparel sourcing is getting complex due to the rising demands of the globalized multichannel market. Companies must drive end-to-end process efficiency and cross-functional collaboration to transform their operating models and become customer-centric. However, being customer-centric isn't just enough. Companies need to tackle the apparel sourcing challenges and improve the process. At SpendEdge, we understand how the apparel sourcing challenges can impact companies in the US. And to help you understand better, we have highlighted the key apparel sourcing challenges. Key Apparel Sourcing Challenges Impending economic downturn The key economic indicators point towards an economic downturn in the US. Companies need to prepare themselves better and develop cost-effective strategies to address sourcing challenges. Creating a centralized supply chain platform could help companies to gain a comprehensive understanding of the end-to-end operations. Want to gain specific insights into factors driving the US apparel industry? Request free platform access to access our smart procurement solutions and 1000+ procurement reports! Shift in sourcing Due to rising uncertainties, apparel sourcing has become a major challenge for many companies. Local sourcing is gaining popularity and companies are compelled to improve their transportation efficiency to address changing customer preferences. Nearshoring could increase, thereby, increasing the proximity of manufacturing operations to customers. To understand how the shift in the sourcing process could change the dynamics of the apparel industry, get in touch with our experts now! Demand-based supply chains Consumers today shop the latest fashions, creating pressure on businesses to keep shaving time off production and transit. Businesses need to integrate product line management with the supply chain strategy to improve the apparel sourcing process and reduce the time to market. To know in detail about the apparel sourcing challenges facing companies in the US, read the complete article here! You may also like: About SpendEdge: SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. Want to gain detailed insights? https://www.spendedge.com/get-more-info View source version on businesswire.com: https://www.businesswire.com/news/home/20200130005567/en/ Contacts SpendEdge  |
| Nordstrom To Start Selling Secondhand Apparel Online - CBS Detroit Posted: 30 Jan 2020 07:17 PM PST  MICHIGAN (CBS DETROIT) – If you shop for used clothing because it's cheaper, you might soon find yourself at Nordstrom! The clothing giant says they'll start selling second-hand apparel online, and in their New York store. They now join Macy's and JC Penny's as the latest retailers jumping on the used clothing trend. This comes as resale sites like Poshmark and thread-up report high sales. For more information visit here.  |
| Posted: 28 Jan 2020 11:43 AM PST Despite the phase one trade deal with China, many U.S. consumers are starting to feel the effect of higher tariffs. That's according to the new CEO of the American Apparel & Footwear Association (AAFA), Steve Lamar, who joined Yahoo Finance's "On the Move" to discuss how tariffs are affecting the retail industry. "Those products for where the tariffs had been in place for 14 or 15 months — handbags, backpacks —we're already seeing price increases that they're up about 7-7.5%. Those had been in place in September of 2018 first at 10% and now at 25%," said Lamar. As part of Phase 1 deal, the U.S. has agreed to ease off some of the tariffs put in place in 2019. This includes the 15% tariffs on $112 billion worth of Chinese goods on September 1, which has been cut to 7.5%.  A woman reading the label on an item of clothing while out shopping for the day. Lamar also noted that many consumers don't realize how much tariffs affect the prices of their purchases. "What a lot of people don't realize is the tariffs are at 25% for those products. Your hats, your bags, your gloves, the phase one deal doesn't do anything to ease those tariffs; those are in place. They're going to be there for a while." When asked if retailers are passing on those increases to customers or eating the costs, Lamar said that companies are reluctant to pass the increase on to customers in order to stay competitive. "Everyone's trying to figure out what's the best way to mitigate it, but over the long term, the tariffs make their way into the prices. We know that because the tariffs that were imposed on us in 1930 and are still with us — Those are now baked into all the products." Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade. Read more: Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.  |
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