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☆ Ship queue grows at U.S. ports as dockworker strike enters third day
▼ + stars: | 2024-10-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

One alternative would be to sail to West Coast ports on the other side of the country, likely using the Panama Canal, a journey of thousands of miles that would hike costs and add weeks to delivery times. Bryan R. Smith / AFP - Getty Images fileThe ILA is seeking a big pay raise along with commitments to halt port automation projects it fears will kill jobs. The USMX had offered a 50% pay bump, but the ILA said it was insufficient to address its concerns. The strike affects 36 ports — including New York, Baltimore and Houston — that handle a range of containerized goods. Biden’s administration has repeatedly said it will not use federal powers to halt the strike.

Persons: ”, Everstream’s Jena Santoro, Bryan R, Smith, USMX, ” USMX, “, Joe Biden’s, Morgan Stanley Organizations: International Longshoremen’s Association, Reuters, ILA, United States Maritime Alliance, Getty, Houston, National Retail Federation Locations: U.S, East Coast, Gulf Coast, West Coast, Panama, Maine, Texas, Bayonne , New Jersey, AFP, New York, Baltimore

☆ Panic buying amid U.S. ports strike is creating supermarket supply concerns
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

There is no need for panic buying, and we encourage consumers to shop responsibly. Bill Simon, former CEO of Walmart, stressed that panic buying is serious and can have a cascading effect on domestic products. "Panic buying not only impacts the availability of imported products, but domestic products as well as consumers shift their purchase behavior," warned Simon. Walmart and Target did not immediately respond to requests about any panic buying patterns identified at their stores. John Catsimatidis, owner of the NYC super chain Gristedes, said the panic buying is occurring and showing no signs of slowing down.

Persons: Stew Leonard, Jr, Stew Leonard's, restocked, Bill Simon, Simon, John Catsimatidis Organizations: CNBC, Gulf Coasts, National Grocers Association, —, of Commerce, East, National Retail Federation, Walmart, Target, NYC Locations: Gulf Coast, East Coast, Gulf, United States, U.S, Canada, Mexico, East

☆ The US dockworkers strike is here, and it's impacting more than just packages
▼ + stars: | 2024-10-01 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

A strike at ports along the US East and Gulf Coasts presents huge challenges for the economy. The strike could lead to billions in daily economic losses and stall imports ranging from mangoes to auto parts. The dockworkers are pushing for higher wages and a ban on automation at the ports. AdvertisementA major strike at US ports started on Tuesday and could snarl everything from holiday shopping to auto production lines. But the strike could halt shipments of those foods, including mangoes, bananas, and other fresh fruit from Central and South America.

Persons: —, Bruce Chan, Costamare, Alan Murphy, Jonathan Gold, Mia Ginter, Robinson, Joe Biden, Biden, Taft, Hartley, Sean M, O'Brien Organizations: Gulf Coasts, Service, Workers, International Longshoremen's Association, United States Maritime Alliance, JPMorgan, . Shipping, ZIM Integrated Shipping Services, FedEx, UPS, Intelligence, Jefferies, Retailers, National Retail, Joe Biden Trade, National Retail Federation, Teamsters Locations: Maine, Texas, Central, South America, East Coast, West Coast, Taft

☆ America's absurd war on 'organized retail crime'
▼ + stars: | 2024-09-30 | by ( Amy Martyn | ) www.businessinsider.com time to read: +26 min

Organized retail crime "is not shoplifting," the agency says on its website, "and these crimes are not victimless." AdvertisementOne homeless woman in jail who pleaded guilty to felony organized retail theft tells me she steals out of desperation. Gavin Newsom sent $267 million to cities across California to increase arrests of organized retail crime — and the crackdown has escalated dramatically. Even the guy who says he coined the term "organized retail crime" can't say how much is lost to it. Gavin Newsom has provided California cities with $267 million and signed 10 new bills into law to bolster the prosecution of organized retail crime.

Persons: Veronica Lumbreras, Deysi Ramirez, Brooke Jenkins, Lumbreras, Villanueva, Ramirez, Louis Vuitton, Sen, Chuck Grassley, Gavin Newsom, Chanel, ANGELA WEISS, David Johnston, shoplifters, Shalia Brown, she's, Brown, Thomas Riddle, Riddle, Elizabeth Camacho, That's, Jeff Loftin, they're, Eric Risberg, Aziza Graves, Miss Graves, Graves, Jenkins, Maury Povich's, Jeffrey Ross, Ross, there's, Read Hayes, Jeffrey Epstein, San Francisco Bloomingdale's, Alto, Bloomingdale's, Cuauhtemoc Ramirez, Amy Martyn Organizations: San Francisco's Mission, San Francisco Police Department, CVS, Target, National Retail Federation, of Homeland Security, San Francisco Chronicle, Hearst Newspapers, Getty, San Francisco, Walgreens, Retailers, Gov, Patrol, Saks, Retail Federation, Kroger, San, Nvidia, Employees, Hall of Justice, ABC News, Prevention, Body, Alto, Mental Health, Anadolu, Walmart, Safeway Locations: San Francisco's, Arriba Juntos, Villanueva, Bay, Walnut, San Francisco, Hayward, California, Mission, Napa County, America, Los Angeles, San Francisco's County, Oakland, Bath

☆ NRF CEO: East Coast port strike 'the last thing' the U.S. economy needs ahead of Q4
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNRF CEO: East Coast port strike 'the last thing' the U.S. economy needs ahead of Q4Matt Shay, National Retail Federation CEO, joins 'Money Movers' to discuss how involved Shay is in negotiations around the East Coast port strike, what Shay would like the White House to do about the looming strike, and how holiday order cycles work.

Persons: Matt Shay, Shay Organizations: National Retail Federation Locations: East Coast, U.S, East

☆ Here’s what might be tough to find if there’s a long port strike
▼ + stars: | 2024-09-29 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +8 min

It doesn’t make economic – or logistical – sense to ship many of the goods that come into East Coast ports by alternative ports of entry – or by plane. That means America could see some shortages of chocolate, alcohol, popular fruit, including bananas and cherries, and even certain cars if the strike lasts a long time. A potential strike at this and other ports on the Gulf and East costs could start early Tuesday. And the federation and its members are concerned with how long it will take to recover from even a short strike. And many of those imports come in through East and Gulf coast ports.

Persons: ” Jonathan Gold, Brandon Bell, Gold, ”, “, That’s, Danny Munch, Munch, ” Chris Swonger, Swonger, Erin Keating, Mark Gillies, Loren Elliott, Chris Frey, Cox Organizations: New, New York CNN, National Retail Federation, CNN, Port, Houston Authority, ILA, American Farm Bureau, Consumers, Cox Automotive, “, Cox, Volkswagen, ” Audi, Auto, Bloomberg, Getty Locations: New York, East, Gulf Coast, East Coast, America, West Coast, United States, Port Wilmington, Delaware, Michigan, Europe, South America, Port of New York, New Jersey, Port of Houston, Gulf, Asia, Midwest

☆ Uber just jumped into the Halloween business
▼ + stars: | 2024-09-27 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Uber Technologies just announced a new partnership with Spirit Halloween, opening up delivery for Halloween costumes, decor and all things spooky to be delivered on-demand via Uber Eats, Postmates and the Uber app. Uber added all Spirit Halloween stores to the delivery apps as of Friday morning, an Uber spokesperson told CNBC. The Halloween shopping season is consistently one of the largest consumer spending events in the United States. Spirit Halloween did not immediately respond to a request for comment. Correction: Spirit Halloween is opening roughly 1.3% more retail locations in North America this year, compared to 2023.

Persons: Jack, Travis Kelce, Taylor Swift, I'm, we'll, Beryl Sanders, Uber Organizations: Technologies, Uber's, CNBC, Michael's, Party, National Retail Federation Locations: Los Angeles , California, Uber's U.S, North America, Party City, United States

☆ Port workers from Maine to Texas are set to strike Tuesday. Expect shortages and higher prices
▼ + stars: | 2024-09-26 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +10 min

It represents the major shipping lines, all of which are foreign-owned, as well as terminal operators and port authorities. Depending on duration, a strike could mean shortages of consumer and industrial goods, possibly driving up prices again. That labor peace has helped them capture market share from West Coast ports that have historically had more contentious labor relations. But he said the shipping lines appear unwilling to pay what it takes this time. The shipping lines realize the problem with having Biden order the union back to work, said Tirschwell.

Persons: Luke Sharrett, Patrick Anderson, ”, USMX, Harold Daggett, John McCown, containerization, Brendan Smialowski, Peter Tirschwell, “, Republican Donald Trump, ” Tirschwell, hasn’t, Jonathan Gold, ” Gold, Biden, Joe Biden, Taft, Hartley, George W, Bush, Bradley Saunders, Daggett, ’ ” Organizations: New, New York CNN, US Maritime Association, International Longshoremen’s Association, BMW, Port, Bloomberg, Getty, ILA, Anderson Economic Group, “, P Global Market Intelligence, Federal Maritime Administration, Republican, National Retail Federation, North, Capital Economics, United Auto Workers Locations: New York, Maine, Texas, East Coast, Gulf, Gulf Coast, of New York, New Jersey, Port Wilmington, Delaware, Port, Baltimore, Port of Charleston, South Carolina, Charleston , South Carolina, West Coast, Michigan, Port of Baltimore, Baltimore , Maryland, AFP, East, North American

☆ Get ready for a dockworker strike that could disrupt everything from medicine to holiday gifts
▼ + stars: | 2024-09-24 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

Read previewA major maritime workers strike is looming, and it could mean a shutdown of key goods — from cars to food — across the East and Gulf Coasts. AdvertisementA strike would have widespread implications across the US, with significant shipment delays that could set off a chain reaction of disruptions. Advertisement"We are coordinating with partners across the supply chain to prepare for any potential impacts," Steve Burns, a PANYNJ spokesperson, told BI. She referred to estimates from Sea-Intelligence, which predicted that a strike would prevent 74,000 shipping containers from being unloaded each day. "Throughout the pandemic, Longshore workers never took a day off," ILA Executive Vice President Dennis Daggett said on September 20.

Persons: —, Harold Daggett, Abe Eshkenazi, USMX, Mia Ginter, Robinson, Ginter, Bethann Rooney, Jonathan Gold, Mitre, Steve Burns, Grace Zwemmer, Biden, Dennis Daggett Organizations: Service, Gulf Coasts, Longshoreman's Association, Business, ILA, Association for Supply Chain Management, National Association of Manufacturers, United States Maritime Alliance, Port Authority of New, National Retail, New Jersey, Bureau of Transportation Statistics, Oxford Economics, Intelligence Locations: East, Gulf, Gulf Coast, East Coast, Port Authority of New York, New Jersey, West Coast, New York, New, Houston

But that has not stopped Trump from recycling some of the same dark portents about a Kamala Harris presidency. Even God was not safe from a Biden presidency, Trump warned. You’re going to have to learn to speak Chinese,” Trump told conservative radio host Hugh Hewitt in August 2020. "She wants no Merry Christmas," Trump said. The suburbs are also doomed if Harris wins, Trump told rallygoers last week in Tucson, Arizona, warning that Harris' team "wants to abolish the suburbs."

Persons: “, ” Donald Trump, Trump’s, Joe Biden’s, Trump, Kamala Harris, ” Trump, Biden, you’ve, Stocks, Harris, TRUMP, Joe Biden, ”, Biden’s, God ”, God, Trump's auguring, Hugh Hewitt, “ You’ll, “ Kamala Harris, rallygoers Organizations: ”, New Hampshire voters, Michigan, National Retail Federation, Republican National Convention, Biden, Fox News, North Carolina rallygoers, Trump, Biden's Locations: America, “, Goodyear , Arizona, Nevada, Florida, U.S, Mexico, ” In Ohio, China, United States, Georgia, Wisconsin, Tucson , Arizona, ” America, San Francisco, California, Las Vegas, North Carolina

☆ America’s stores are winning the war on shoplifting
▼ + stars: | 2024-09-13 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

New York CNN —A year ago, America’s stores declared a shoplifting epidemic. Target also closed nine stores, saying “theft and organized retail crime” threatened worker and customer safety and made business unsustainable. Many retailers’ merchandise losses have stabilized or improved, and chains have publicly dialed back their rhetoric. Their shrink rate — lost inventory as a percentage of sales — is their best estimate for items that go missing. The shoplifting rate in the first half of 2024 was also 10% higher than in the first half of 2019.

Persons: Target, “, Michael Fiddelke, Lindsey Nicholson, Gavin Newsom, ”, Michael Baker, DA Davidson, Donald Trump, William Blair, Walgreens ’, James Kehoe, ” Neil Saunders, “ That’s, it’s, Baker, ” Baker, David Johnston, Duane Reade, Angela Weiss, Ernesto Lopez, Edgar Dworsky, “ We’ve, ” Johnston Organizations: New, New York CNN, Target, Getty, “, DA, CNN, Companies, National Retail Federation, Criminal, Retailers Locations: New York, Queens , New York, California, New York City

☆ Why 'wardrobing' retail fraud soars in the summer
▼ + stars: | 2024-08-07 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

A particular type of retail fraud soars during the summer season. Scot Case, executive director of the Center for Retail Sustainability at the National Retail Federation, said wardrobing can drive up costs and waste for retailers if the product can no longer be resold. "As companies build and integrate take back programs to repair and resell used items, returns take on a new role, fueling a new circular market." The average value of a returned item for Optoro's customers is $85. The highest item value reported as returned in the survey was $200.

Persons: Amena Ali, Optoro, Ali, TJ Maxx, coverup, Scot Case, Stephen Lamar, Lamar, Stephen Lamar's Organizations: CNBC, Center for Retail Sustainability, National Retail Federation, Eagle Outfitters, American Apparel and Footwear Association Locations: recommerce

☆ National Retail Federation CEO Matt Shay: We see a resilient consumer with moderation in spending
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNational Retail Federation CEO Matt Shay: We see a resilient consumer with moderation in spendingMatt Shay, National Retail Federation president and CEO, joins 'Squawk Box' to discuss the state of the consumer, consumer spending trend, impact of potential tariffs, and more.

Persons: Matt Shay Organizations: National Retail Federation

☆ I made 5 cookout foods in a slow cooker and they were all perfect for the 4th of July
▼ + stars: | 2024-07-02 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +1 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Read previewWhen planning a summer cookout, a Crock-Pot or slow cooker is a great tool to make prepping easier. This story is available exclusively to Business Insider subscribers. Ahead of the Fourth of July, I tried making five different dishes that I would typically make for a cookout, but this time I made them in my slow cooker. I loved the ease of using the slow cooker and also thought it would be an ideal way to transport hot dishes to a party.

Persons: — Organizations: Service, National Retail Federation, Business Locations: Buffalo

Container ships are berthed at PSA's Pasir Panjang Terminal in Singapore July 15, 2019. Global port congestion has reached an 18-month high, with 60% of ships waiting at anchor located in Asia, maritime data firm Linerlytica said this month. SEVERE CONGESTIONSingapore, the world's second-largest container port, has seen particularly severe congestion in recent weeks. "The peak season, which traditionally starts in June, was advanced by a full month, causing ocean freight rates to soar." Container freight prices from Asia to the U.S. and Europe have tripled since early 2024.

Persons: Edgar Su, Linerlytica, Yemen's, Jayendu Krishna, Drewry, PortCast, Niki Frank, Dimerco, Jonathan Gold, Judah Levine, Jared Bernstein, Gene Seroka, Peter Sand, Jeslyn Lerh, Lisa Baertlein, Lisa Barrington, Miyoung Kim, Kim Coghill Organizations: REUTERS, Retailers, Ships, Drewry Maritime Advisors, Singapore, Singapore's, Port Authority, Drewry, Keppel, Tuas, Maersk, DHL Global, Asia, Descartes, National Retail Federation, Container, U.S ., of Economic Advisers, U.S, DHL, Thomson Locations: Pasir Panjang, Singapore, SEOUL, SINGAPORE, Asia, Africa, Malaysia's Port Klang, Tanjung Pelepas, Shanghai, Qingdao, China, South Korea, U.S, Europe, U.S . East Coast, U.S . West, of Los Angeles, Los Angeles, Seoul

Many merchants and trade groups including the National Retail Federation opposed the accord, saying card fees would remain too high, while Visa and Mastercard would retain too much control over card transactions. The decision could force Visa and Mastercard to negotiate a settlement more favorable to merchants, or go to trial. Visa and Mastercard said they were disappointed with the outcome. Some U.S. senators have promoted legislation, the Credit Card Competition Act, to let merchants use other payment networks to process Visa and Mastercard transactions. The judge's decision does not affect an earlier $5.6 billion class action swipe fee settlement among Visa, Mastercard and about 12 million merchants.

Persons: Brendan McDermid, Margo Brodie, Brodie, Nilson, Doug Kantor, Jonathan Stempel, Deepa Babington, Leslie Adler Organizations: Mastercard Inc, New York Stock Exchange, REUTERS, Companies, Mastercard, National Retail Federation, Visa, National Association of Convenience Stores, U.S, Merchant Discount Antitrust Litigation, Court, Eastern District of, Thomson Locations: New York City, U.S, Brooklyn, Manhattan, Eastern District, Eastern District of New York, New York

☆ Fast fashion retailer Shein confidentially files for London IPO
▼ + stars: | 2024-06-24 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Shein, the fast fashion giant with links to China, has confidentially filed for a public listing in London as it faces backlash in the U.S., a person familiar with the matter told CNBC. Elected officials in the U.S. have repeatedly expressed concerns about the use of forced labor in Shein's supply chain and its use of a U.S. tax law exemption known as de minimis. Shein would still prefer to go public in the U.S., sources previously told CNBC, and its filing in London doesn't mean that an IPO will happen there. It's unclear if Beijing has signed off on the London listing. Shein's London filing marks another twist in the company's so-far long road to a public markets debut.

Persons: Shein, It's, Donald Tang, — CNBC's Sara Salinas Organizations: CNBC, U.S, National Retail Federation, U.S . Securities, Exchange Commission, Wall Street Journal, SEC Locations: China, London, U.S, Beijing, Singapore, Xinjiang

☆ Experts say Shein's U.S. IPO is all but dead
▼ + stars: | 2024-06-21 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +2 min

The Shein logo can be seen on a smartphone, while the Chinese online retailer's website is open on a laptop. China-founded e-commerce company Shein's hopes of going public in the United States are growing slimmer by the day, according to experts, as rising tensions between Beijing and the U.S. roil business and trade. A London IPO could, in theory, be easier than a U.S. offering, according to Bochanis. If Shein's London IPO succeeds, it is unlikely to keep pursuing a U.S. offering, said University of Florida finance professor Jay Ritter, who studies IPOs. It became one of the first prominent Chinese companies to do so in the U.S. even as the Biden administration has increasingly cracked down on Chinese-made electric vehicles.

Persons: Shein's, confidentially, Angelo Bochanis, Bochanis, Jay Ritter, Zeekr, Biden Organizations: U.S, National Retail Federation, CNBC, TJX Companies, UBS, Target, Walmart, Renaissance, Securities and Exchange Commission, London Stock, University of Florida Locations: China, United States, Beijing, U.S, London

☆ 'We expect moderation this year' in consumer spending, says NRF CEO Matt Shay
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We expect moderation this year' in consumer spending, says NRF CEO Matt ShayMatt Shay, president and CEO of the National Retail Federation, joins CNBC's 'The Exchange' to discuss the state of the consumer, tariffs, and more.

Persons: Matt Shay Matt Shay Organizations: National Retail Federation

☆ Shein wants to sell the supply-chain tech it used to disrupt online shopping. Retail experts say brands may have concerns.
▼ + stars: | 2024-06-06 | by ( Madeline Stone | ) www.businessinsider.com time to read: +9 min

Shein has also grown beyond its fashion roots, selling products in categories such as home goods, electronics, and office supplies. A Shein spokesperson said the company's success did not depend on the de minimis provision. The Shein spokesperson said the company had a "zero-tolerance policy for forced labor" and required its "contract manufacturers to only source cotton from approved regions." "Shein suppliers and third-party sellers are required to comply with company policy and certify their products do not infringe third-party IP." "Currently, Shein just sells the very low-cost products, but including various brands in its platform, it can sell products at various price ranges," he said.

Persons: —, Shein, Donald Tang, Evelyn Gong, who's, It's, confidentially, Prince Ghosh, Ghosh, Christophe Archambault, Gong, minimis, wouldn't, JADE GAO, hasn't, Anand Kumar Organizations: Chain Management, Service, Industry, Wall Street Journal, Carnegie Mellon University's Tepper School of Business, Research, London Stock Exchange, Brands, Walmart, Walmart Commerce Technologies, Department of Homeland Security, Labor, CNBC, National Retail Federation, Coresight Research, Shein Locations: China, Singapore, Paris, minimis, Shein, Guangzhou

☆ TJ Maxx store workers are wearing body cameras to deter shoplifters
▼ + stars: | 2024-06-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

New York CNN —Hourly retail security workers are now wearing police-like body cameras at major stores. The manufacturer of Taser devices and other security companies are now designing and marketing body cameras specifically for retail workers. “Body cameras are just one of the many ways that we work to support a safe store environment,” the spokesperson said. Bakery chain Greggs gave employees body cameras after a rise in sausage roll thefts and threats from customers. Applebaum also expressed concerns about the information the body cameras are collecting and whether it could be used to stymie union organizing attempts.

Persons: TJ Maxx, John Klinger, “, they’re, ”, TJX isn’t, TJX, Joshua Isner, John Eck, shoplifters, They’re, Ernesto Lopez, Thaddeus Johnson, ” Stuart Applebaum, “ it’s, Applebaum, CNN’s Curt Devine Organizations: New, New York CNN, Marshalls, National Retail Federation, Tesco, CNN, University of Cincinnati, Criminal, Wholesale, Department Store Union Locations: New York, HomeGoods, Florida, Miami Beach

☆ EBay to drop American Express over fees, says customers have other options
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: +3 min

Online marketplace behemoth eBay said it plans to no longer accept American Express , citing what the company says are "unacceptably high fees" and that customers have other payment options to shop online. It's a notable blow to American Express, whose customers are often the most attractive among merchants and spend the most money per month on their cards. "After careful consideration, eBay has decided to no longer accept American Express globally effective Aug. 17 due to the unacceptably high fees American Express charges for processing credit card transactions," said eBay spokesman Scott Overland, in a statement. Overland said that eBay customers have become aware of new ways to pay for items, making payments more competitive than ever before, and AmEx was no longer a necessary partner for eBay. "We know that the vast majority of eBay customers are willing to use alternative payment options to continue enjoying buying and selling on our marketplace," Overland said.

Persons: It's, it's, Scott Overland, Overland, AmEx, cardmembers, Adam Isserlis, Steve Squeri Organizations: behemoth, American, American Express, Costco, eBay, Apple Pay, PayPal, Visa, Amazon, National Retail Federation, AmEx, Mastercard, Express Locations: U.S, Keefe

☆ Benefits of secondhand clothing, goods according to Alicia Silverstone
▼ + stars: | 2024-05-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Alicia Silverstone stars in the 1995 film "Clueless." "I've been fighting the good fight to encourage people to buy used and make it sound cool," she said. Online shopping's hefty toll on the environmentWith the explosion of online shopping during the pandemic, a surge in returns seemed like a small price for everyone to pay. The return rate in 2023 was about 15% of total U.S. retail sales, or $743 billion in returned goods, according to the National Retail Federation's most recent data. For online sales, the numbers are even higher, with a return rate closer to 18%, or $247 billion of merchandise purchased online returned.

Persons: Alicia Silverstone, Stringer, Cher Horowitz, Cher, Silverstone, I've, Shraysi Tandon Organizations: CNBC, eBay, National Retail

☆ Some consumers are punting big purchases like pools and mattresses
▼ + stars: | 2024-05-18 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

Rachel Wisniewski | ReutersAmericans are kicking the can down the road on some more-costly, traditionally financed purchases as elevated inflation and interest rates bite. "As a result, consumers continue to scrutinize their spending and make near-term decisions based primarily on need, price and perceived value. But those options have fallen out of favor as interest rates rose. He also cited increased interest rates as another weight on their shoulders. Lofty interest rates have also hampered housing improvement efforts for those staying put, according to Home Depot .

Persons: Rachel Wisniewski, Joe, Shelly Ibach, Ibach, FactSet, Mark Mathews, Platt, J, Mitchell Dolloff, Dow Jones, it's, Mathews, Enphase, Badri Kothandaraman, Marc Bitzer, Patrick T, bode, Robert Ohmes, Richard McPhail, It's, McPhail Organizations: Reuters, Reserve, Prosper, National Retail Federation, San Francisco Fed, New York Fed, Management, Commerce Department, Consumers, Whirlpool, Fallon, Bloomberg, Getty, Bank of America, CNBC Locations: Gilbertsville , Pennsylvania, Minneapolis, U.S, California, Torrance , Calif, Minnesota

☆ Latest shipping data reveals that mid-range retail is the new consumer price sweet spot
▼ + stars: | 2024-05-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Almost 80% of current freight orders received for peak season are for mid-range price items, the survey shows. Similar to last year, respondents expect less consumer appetite for luxury and aspirational luxury items imported. The world's second-largest ocean freight company, Maersk, recently told CNBC it expected a "normal" peak season. "There's nothing that indicates that it would be a slower peak season or a bigger peak season," said Charles Van der Steene, president of Maersk North America, in a recent interview with CNBC. "We believe in normalized peak season.

Persons: Eric Thayer, Robinson, Kuehne, Nagel, Noah Hoffman, Hoffman, hypersensitive, Charles Van der Steene, We've, John David Rainey, Rainey, Larry, Jon Gold, Nate Herman, Biden Organizations: US, Bureau, Bloomberg, Getty, CNBC, Chain Survey, National Retail Federation, American Apparel and Footwear Association, United National Consumer Suppliers, ITS Logistics, DHL, Uber Technologies, C.H, Maersk, Walmart, Uber, International Longshoremen's Association, ILA, United States Maritime Alliance, Brands Locations: of Los Angeles, Los Angeles , California, U.S, Panama, Maersk North America, East Coast, Gulf, East, North America, West, Coast

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