Posts Tagged ‘National Retail Federation’

National Retail Federation Predicts A Good Year For Retailers

Thursday, March 13th, 2014

Posted by Laura Hills, VP of Marketing

While consumers are still being careful about their spending, the National Retail Federation (NRF) has predicted that retail sales will show an increase of 4.1% in 2014, outpacing the 3.7% increase delivered in 2013.  As a part of this increase, the NRF is predicting online sales to increase 9% to 12%, good news for our online and multichannel merchants.

Behind the optimistic forecast is the NRF’s expectation that 2014 will be less volatile than 2013 which brought economic concerns from a fiscal-cliff scare, a government shutdown and a tax increase.  Jack Kleinhenz, the NRF’s Chief Economist has said that he “expects less drag on growth from fiscal policy” which will greatly benefit retailers as shoppers show more confidence amid fewer economic concerns.

Retailers have already posted January gains with an average increase of 3.1% over 2013 sales and ahead of the 2.2% gain predicted by research firm Retail Metrics.  NRF President and Chief Executive Matthew Shay commented, “We’re looking forward to an even better year than last year (2013) for retailers.  We’re on the right trajectory. We’re seeing continued modest and incremental growth.”

So prepare for a good year by determining where operational improvements can be made to help you to respond to sales opportunities.  If you haven’t already done so, now’s the time to think about connecting your back office with your eCommerce store to simplify your day-to-day operations leaving you more time to source new products and reach new markets.

 

Tags: , , , ,

Posted in Ecommerce, Freestyle Commerce, Industry News, Inventory & Order Management, Multichannel Order Manager, StoreFront.net | No Comments »

Retailers Seek Advice as They Head Into 2014

Monday, February 3rd, 2014

Post by: Laura Hills, VP Marketing, Dydacomp

The top names in retail met to discuss the future of the industry at the National Retail Federation (NRF) Conference & Expo.  Joan Verdon, a senior writer from The Record, a North Jersey newspaper, keeps us informed on what’s happening in the retail industry.  She asked six industry experts to name the three top issues that retailers should be focusing on for 2014 and beyond. Their perspectives are all worth noting and a must read for all retailers, whether eCommerce or in-store.

These experts included:

  • Howard Davidowitz, Chairman, Davidowitz & Associates
  • Marshal Cohen, Chief Analyst, THE NPD Group
  • Nikki Baird, Managing Partner, Retail Systems Research
  • Bob Phibbs, Chief Executive, The Retail Doctor
  • Bill Martin, Founder, Shopper Trak
  • Ken Perkins, President, Retail Metrics

Marshal Cohen predicts that 2014 is likely to be one of “monumental change for retail” and that retailers need direction. According to Cohen, “Retail has hit a crossroads where the consumer is heading in one direction, retail’s heading in another and manufacturers are stuck in the middle trying to figure it out.”  All of the experts’ responses are valuable for anyone focused on the retail industry. Click here to read the entire article and excerpts from each of the industry leaders. http://www.northjersey.com/news/239794711_
Retailers_get_sales_advice_as_they_head_into_2014.html

Happy Selling!

Tags: , , , ,

Posted in CEO, Customer Satisfaction, Customer Spotlight, Dydacomp News, Ecommerce, Industry News, SiteLINK News | No Comments »

New Ruling: Gift Card Taxes

Thursday, January 13th, 2011

Posted By:  Rob Coon,  President of Dydacomp

The Internal Revenue Service announced last week that the sales of gift cards do not have to be counted as taxable income until they are redeemed even if they were sold through a subsidiary or franchise, or are issued as a refund for returned merchandise.

Previously the regulations regarding gift cards stated that income could be deferred as long  as the cards were redeemable with merchandise from the company that sold them. Problems arose because most retailers have subsidiaries that handle and sell gift cards; the IRS contended that the income is taxable upon the time the gift card was sold even if it was redeemed by another division in the company. The National Retail Federation argued that the income from gift cards still goes to the same company regardless of whether the cards are sold directly by the parent or through a subsidiary.

The deferral of taxable income on gift cards doesn’t affect retailers if the cards are redeemed in the same year they are purchase. However, the deferral can be a large factor in retailer’s tax liability when a card is sold in one year and no redeemed until the following year. This often happens during the holiday season. The IRS now says that gift card income can be deferred regardless of whether the cards are redeemed by the parent company, a subsidiary or a franchise.

Does this new ruling affect your business? How do you feel about this new ruling on when gift cards become taxable?

Check out further information on the National Retail Federation site.

Tags: , , , ,

Posted in Ecommerce, Industry News | No Comments »