HdL HeadLines calls out retail trends affecting the economy and HdL news to provide you with insight and support in your budget preparation and economic planning.
- U.S Economy Soared in the First Quarter, Growing at a 6.4% Rate
- Mall Owner Simon’s CEO Sees Shopper ‘Euphoria’ as People Return to Stores
- Consumer Spending Flattens After March Jump, a Sign of a Rocky Recovery
- 7-Eleven Completes Speedway Acquisition of 3,800 Convenience Stores
- Target Offers Same-Day Delivery and Pickup of Adult Beverages
- Amazon to Pass Walmart in U.S. Retail Sales in 2025
- Recent HdL Publications
America is on the path to recovery and economic growth is rampant. But the pandemic recession has been severe and we're still not done growing our way out of it. U.S. gross domestic product — the broadest measure of economic activity — grew at an annualized pace of 6.4% in the first three months of the year, adjusted for seasonal swings, the Commerce Department reported. That was slightly better than economists had predicted, and a faster rate than the 4.3% recorded at the end of 2020.
The biggest U.S. mall owner Simon Property Group says shoppers are getting back to malls, but that it’s hard to predict what traffic trends are going to look like one year from now. Simon Property CEO David Simon said that sales and shopper visits are improving week over week, but it is still being conservative in its outlook because it’s difficult to know what’s going to stick versus what’s a short-term boost, he said.
Retail sales were flat last month after a buoyant March, the Commerce Department reported, as Americans continued spending their latest round of government stimulus checks. The pace for April was a slowdown from the prior month, when retail sales rose by 10.7%, as vaccinations increased and people became more comfortable outside their homes, spending more money on clothing, restaurants, bars and sporting goods.
Convenience retail giant 7-Eleven announced the successful completion of its acquisition of Speedway, the convenience store arm of Marathon Petroleum Corp. with approximately 3,800 stores located in 36 states across the United States. The acquisition brings 7‑Eleven’s total North American portfolio to approximately 14,000 stores and diversifies 7‑Eleven’s presence to 47 of the 50 most populated metro areas in the U.S., as well as expanding the company-operated store footprint.
Target is expanding its same-day pickup and delivery services to include adult beverages. Order Pickup and/or Drive Up for beer, wine, spirits and other adult beverages will be available at more than 1,200 stores across the country, and via Same-Day Delivery with Shipt at more than 600 stores by the end of the month. Target’s same-day assortment expansion comes after successful pilots last year where the retailer fulfilled hundreds of thousands of same-day pickup and delivery orders and saw more than 450% digital growth in the category.
Amazon.com Inc. will supplant Walmart Inc. as the biggest U.S. retailer by 2025, according to a new report, suggesting the e-commerce giant has too much momentum for Walmart to stop despite big investments in its own e-commerce offerings. By 2025, U.S. shoppers will buy $632 billion worth of products at Amazon and retail affiliates, surpassing Walmart’s $523 billion, according to a report from Edge by Ascential.
Recent HdL Publications
- Legislative Update May 2021
- California's Retail Economy in 4Q2020
- Utility Users Tax - The Stable Revenue?
- Recovery of Lodging and Business Tax Revenues
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