‘Record’ Jewelry Outlay to Drive Mother’s Day Sales
RAPAPORT. US consumers are expected to spend a record amount on jewelry this Mother’s Day in an effort to treat their loved ones after more than a year apart, according to the National Retail Federation (NRF).
“There is a lot of consumer optimism around Mother’s Day this year as more people are getting vaccinated and stimulus checks are being distributed,” NRF CEO Matthew Shay said last week. “For many, this is a chance to make up for last year’s Mother’s Day when we were under lockdown.”
In total, Americans will shell out $28.1 billion in Mother’s Day gifts this year, up $1.4 billion from 2020, the NRF noted. Consumers will spend 59% of that $1.4 billion on jewelry.
RAPAPORT. US retail sales rebounded strongly in March as consumers went out to spend the stimulus money they had received from the government, the National Retail Federation (NRF) said.
Revenue rose 28% year on year and 10% versus February’s total as consumer sentiment grew, according to data the US Census Bureau reported last week. Covid-19 vaccinations buoyed the economy and made it easier for shoppers to get out, the federation added.
“Today’s data confirms that people are going out and spending and that in-store traffic has picked up,” said NRF chief economist Jack Kleinhenz. “After a disappointing February, there was a perfect alignment of factors supporting a surge in shopping in March. Further reopening of the economy was encouraged by economic stimulus payments, the public health situation improved with more vaccinations, employment grew, and there was seasonal activity around Passover, Easter and spring break.”
Stimulus Spurs March US Retail Sales
RAPAPORT. US retail sales rebounded strongly in March as consumers went out to spend the stimulus money they had received from the government, the National Retail Federation (NRF) said.
Revenue rose 28% year on year and 10% versus February’s total as consumer sentiment grew, according to data the US Census Bureau reported last week. Covid-19 vaccinations buoyed the economy and made it easier for shoppers to get out, the federation added.
“Today’s data confirms that people are going out and spending and that in-store traffic has picked up,” said NRF chief economist Jack Kleinhenz. “After a disappointing February, there was a perfect alignment of factors supporting a surge in shopping in March. Further reopening of the economy was encouraged by economic stimulus payments, the public health situation improved with more vaccinations, employment grew, and there was seasonal activity around Passover, Easter and spring break.”
Foreign Secretary Harsh Vardhan Shringla on Friday noted that the shortcomings of the current multilateral system were laid bare by the COVID-19 pandemic and asserted that there is no retreat from multilateralism or globalisation. Delivering remarks at the conclusion of the 6th edition of Raisina Dialogue, Shringla said, The broader theme of technology and geo technology ran through the dialogue. How technology can be harnessed to help and not hurt is one of the great questions of the day. Algorithms must help but not harm, transparency is required, forward-looking and positive rules that are congruent with good public policy. The shortcomings of the current multilateral system laid bare by the pandemic evoked discussion. There is no retreat from multilateralism or globalisation. Multilateralism needs to be strengthened, he added.
Salman Khan’s fee for his cameo in Shah Rukh Khan’s Pathan will surprise you Fans of Salman Khan and Shah Rukh Khan are eager to see them on screen together in Pathan
By Rasti Amena| Updated: 16th April 2021 3:08 pm IST Salman Khan will play the role of Tiger in Shah Rukh Khan s Pathan (Instagram)
Mumbai: Pathan is one of the much-awaited upcoming movies of Bollywood as superstar Shah Rukh Khan is making a comeback on big screen after hiatus of three years. Directed by Siddharth Anand, Pathan will have Salman Khan’s cameo role. Ardent fans of the superstars are eager to witness their onscreen camaraderie and there has been a lot of excitement about the film ever since fans found out that Salman would have a cameo in the film.