Increased consumer spending prompts NRF to boost 2016 sales projections
WASHINGTON – With increases in consumer spending expected to remain solid during the remainder of the year, the National Retail Federation on Tuesday increased 2016 retail sales projections by 30 basis points to 3.4% over last year.
Online and other non-store sales, which are included in the overall figure, are expected to increase 7% to 10% year-over-year rather than the 6% to 9% percent forecast earlier.
“Economic indicators are showing positive trends for retail,” stated Matthew Shay, NRF president and CEO, citing the improved housing market, job growth, higher wages and other factors that have boosted consumer spending. “Challenges remain, with some greater than others depending on the retail category, but consumer confidence remains high and we believe that retail customers will continue the positive trends we have seen in the first two quarters of the year.”
Retail sales in the first half of 2016 performed at a solid pace, growing close to 4% on a year-over-year basis, according to NRF calculations, which exclude automobiles, gasoline stations and restaurants. NRF expects gross domestic product to grow between 1.9% and 2.4%.
“There are many factors that could prove to be hurdles but our overall outlook is optimistic,” NRF chief economist Jack Kleinhenz said. “Uncertainty surrounding the presidential election could make consumers more cautious, and the combination of a rising dollar and global slowdown have impacted exports, but other factors like favorable weather patterns that will help move winter merchandise support our outlook.”
NRF is watching economic developments closely and will evaluate any changes to its forecast as necessary. If needed, the next update to forecast will come as part of NRF’s annual holiday forecast in October.
Remington launches breakthrough collection of hair tools
MIDDLETON, Wis. — A leader and innovator in affordable hair care has launched a collection of hair tools designed to create hairstyles that keep up with fast-paced women who are on the go 24/7.
Remington is seeking to transform the hair tool category with its T-Studio Thermaluxe collection, which features proprietary thermal technology that gives women the power to lock in their hair styles from root to tip all day long.
Remington says extensive consumer research showed a consistent need for even heat performance, to avoid damage and styling frustration. That insight inspired the development of the T |Studio Thermaluxe curling wands, straightening irons, setters and blow dryer, all of which feature advanced heating systems that emit optimal heat levels—unique to each tool—to quickly and safely style hair.
"This is how the next generation gets ready," said Daniel Provolo, vice president of marketing at Spectrum Brands. "It's our highest-tech innovation to date and we developed the product because research shows that women are frustrated by a hairstyle that doesn't keep up with their busy lifestyle. The Thermaluxe collection helps women create styles that are proven to withstand life's moments – there are enough things to focus on during the day, great hair should not be one of them."
The highlight of the T|Studio Thermaluxe Wands is a gradient system that concentrates heat at the root, where hair needs it most, while the T|Studio Thermaluxe Straighteners deliver consistent heat across the plates, unlike traditional irons which fluctuate in temperature and can drop up to 20 degrees when opened.
Remington's T|Studio Thermaluxe Pro Series Collection is available exclusively now on Amazon.com and will be rolling out to additional national retailers beginning in August.
Ranir adds REMBRANDT brand to oral care product portfolio
GRAND RAPIDS, Mich. — A leading global manufacturer of private label and value priced oral care products has acquired the REMBRANDT teeth whitening brand from Johnson & Johnson Consumer Inc.
The deal includes all intellectual property and rights to the REMBRANDT brand. Terms of the deal were not disclosed.
REMBRANDT developed the original whitening toothpaste and later expanded its product offerings within the dental whitening category. The brand is synonymous with quality whitening products and provides Ranir an additional platform for the growing teeth whitening segment. While dental whitening products will be Ranir's initial focus with REMBRANDT, expansion into adjacent dental categories may be considered as future growth vehicles.
The acquisition of REMBRANDT gives Ranir another oral care trademark, along with its current Plackers brand, to complement the company's full portfolio of high quality, affordable store brand oral care products. Ranir's manufacturing expertise, combined with its focus on consumer and customer insight driven product innovation will be instrumental in building upon the strong whitening heritage of the Rembrandt brand.
"We are very excited about the acquisition of the REMBRANDT brand and the unique opportunity it presents to fill a consumer need in value oriented oral care whitening solutions," said Rich Sorota, president and chief executive officer of Ranir. "Through our strong retail partnerships, we are already helping provide access to affordable oral self-care with store brand products that offer an exceptional value. The REMBRANDT brand platform will complement that portfolio and will provide consumers an unsurpassed whitening experience, at an affordable price. We believe that this strategy can provide Ranir an opportunity to drive additional household penetration, in the dental whitening category."
Founded in 1979, Grand Rapids, Michigan-based Ranir products, which include some of the world's largest oral care store brands, can be found at major retailers in more than 40 countries. The owns, manufactures and markets the Plackers® brand.